Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Coal Miners"


18 mentions found


That realization led portfolio manager David Miller to launch the Catalyst Insider Buying Fund (INSIX) nearly 12 years ago. While many funds factor in insider transactions when selecting stocks, few use it as their main prerequisite when screening investments. But in the last 12 months, it's the best-performing large-cap fund on the market through April 30, according to Kiplinger. All of these companies have benefitted from insider buying to some extent, but some have been lifted even more by company buybacks. "They've just been gobbling up their own stock," Miller said of O'Reilly Automotive.
Coal Is Too Hot to Handle—Maybe Even for Glencore
  + stars: | 2023-04-17 | by ( Megha Mandavia | ) www.wsj.com   time to read: +1 min
Teck Resources says that its own plan for its company would mean better opportunities to maximize value for its shareholders. Glencore , one of the world’s largest coal miners and traders, wants more coal—just not in its backyard. An emerging battle for fellow coal heavyweight Teck Resources ’ assets says a lot about the curious position the black stuff finds itself occupying in the postpandemic, post-Ukraine-invasion world. Glencore is pursuing Teck Resources in a $23 billion deal that would create two new companies—one for Glencore and Teck’s merged base-metal and other assorted businesses, and another for their merged thermal, coking coal and ferroalloys businesses. The Swiss commodities giant’s initial proposal for an all-share deal, and a revised offer that sweetens the deal with $8.2 billion in cash as an alternative to shares in the combined coal company, were both rejected by the Canadian miner this month.
1. Who originated the look? Pinning down the outfit’s genesis is near-impossible, said Chloe Chapin, who’s writing a dissertation on fashion history at Harvard. Late-19th-century coal miners sported early versions of denim dungarees—the progenitors to jeans—noted Ms. Chapin, while white T-shirts rose to prominence when the U.S. Navy began issuing them to sailors around 1913. One thing’s indisputable, said Ms. Chapin: The look began as workwear. “Bluejeans and white T-shirts are…very cheap, accessible to everyone—they were worn by dockworkers and mechanics.”The style, which has cycled in and out of popularity over the decades, has often radiated bad-boy vibes.
U.S. Crude Slips Below $70 a Barrel
  + stars: | 2023-03-15 | by ( David Uberti | ) www.wsj.com   time to read: 1 min
Crude-oil prices have tumbled since the collapses of two banks sent tremors through financial markets. A dayslong selloff in oil dragged crude prices to 15-month lows Wednesday, intensified by new fears that banking-sector turmoil signals broader challenges ahead for the world’s largest economy. Oil prices have tumbled in the sessions since the collapse of Silicon Valley Bank and Signature Bank sent tremors throughout financial markets, pushing investors in recent days to unload risky assets and powering a historic rally in safer government bonds. Energy stocks also lost 5.9% Wednesday, making the sector the S&P 500’s worst performer, with shares of international oil majors, refiners, Texas wildcatters, oil-field services firms, rig owners, Appalachian gas producers, coal miners, crude shippers and pipeline operators all sliding.
MELBOURNE, Feb 16 (Reuters) - Australia's Whitehaven Coal Ltd (WHC.AX) posted a more than five-fold jump in first-half profit on Thursday, aided by soaring coal prices, but paid a lower than expected dividend, sending its shares down. But Whitehaven announced an interim dividend of only 32 Australian cents per share, about 30% lower than Citi estimates and about 16 cents below Goldman Sachs' forecast. Whitehaven shares slid as much as 12.3% after news of the coal reservation scheme broke, before paring loses to A$7.88, down 3.8%. "We do think the structural underpinnings of the market are very positive, but in the short term, coal prices have come off quite a bit," Flynn added. Subsequently, the company kept its run-of-mine coal production guidance of between 19.0 million and 20.4 million tonnes for the 2023 fiscal year unchanged.
Turkish Earthquake Rescue Efforts Are Fraught With Risk
  + stars: | 2023-02-12 | by ( Stephen Kalin | ) www.wsj.com   time to read: 1 min
ADIYAMAN, Turkey—It began with a rescue dog who detected a human scent in a pile of wreckage. Then a soldier said he heard a voice from within. For the next 10 hours, a group of Turkish coal miners picked away at the wreckage with axes, saws and shovels. At 10.41 p.m. on Friday, after nearly five days entombed in the wreckage of her own collapsed apartment building, 33-year-old Ozlem Yulmez was extricated. Rescuers quickly covered her in a silver thermal blanket and whisked her into a waiting ambulance.
Gautam Adani , an Indian businessman, is one of the richest people in the world. His wealth took a big hit when shares of companies owned by his flagship Adani Group fell dramatically following the publication of a report by a U.S. short seller in late January. The Adani Group is big—and politically connected. There are seven India-listed companies bearing the Adani name, including firms in power transmission, green energy and port operation. Adani Group also owns cement producers, airport operators, coal miners and a digital marketing company.
The first, and most important, is that Australian coal will struggle to compete on price in China, especially thermal grades used to make electricity. Once the informal ban came into effect, Australia's share of China's imports dropped to zero by early 2021. China's imports of Russian thermal coal have remained solid, with some seasonal variations, since then and were 2.96 million tonnes in December, according to Kpler. The question is whether Australian coal miners can compete on price with Russian thermal supplies, and the answer is probably not. Add in a likely price disadvantage and it's hard to see Australian thermal coal charging back into China.
China funds with energy bets stand out in a bleak year
  + stars: | 2022-12-30 | by ( ) www.reuters.com   time to read: +3 min
SHANGHAI, Dec 30 (Reuters) - Chinese fund managers who made big bets on energy companies are celebrating a year that was brutal for many of their peers. Huang Hai, who manages three funds for Wanjia Asset Management, far outperformed the market by wagering on energy stocks such as CNOOC , China Shenhua Energy (601088.SS) and Shaanxi Coal (601225.SS). Energy companies including Shaanxi Coal, Shanxi Lu'an Environmental Energy (601699.SS), Guanghui Energy (600256.SS) and Shenhua Energy are among her fund's top 10 holdings. A Chinese index fund that tracks the Dow Jones U.S. The Lion Oil and Gas Energy Equity Fund, which invests in global energy funds under China's outbound QDII scheme, delivered a return of 53% for domestic investors.
The Trump administration gave several towns relying on oil, gas and coal a boost by cutting royalty payments and expanding projects. East Carbon is a coal town, one of only a few hundred still hanging on. Emery County Coal Resources, which is a subsidiary of American Consolidated Natural Resources, owns Lila Canyon Mine and did not reply to several requests for comment. Utah relies heavily on coal for energy: 61% of the state’s electricity net generation came from coal-fired plants. But Porter said Emery County Coal Resources, the company that runs the mine, has a solid plan to extinguish it.
The centre-left federal government of Prime Minister Anthony Albanese has played its cards, announcing on Dec. 9 plans to legislate a year-long price cap for wholesale natural gas and thermal coal in the country's populous eastern states. Australia vies with Qatar and the United States for the title of the world's biggest exporter of liquefied natural gas (LNG) and is the second-biggest shipper of thermal coal after Indonesia. Australia still generates about 50% of its electricity from thermal coal, although this share is shrinking rapidly as the country installs renewables such as solar, wind and battery storage. The ruling Labor Party's plans call for a price cap of A$12 ($8.15) per gigajoule (GJ) for gas and A$125 a tonne for thermal coal, with the government saying it will support any coal miner whose costs exceed the price cap. The gas industry probably would have been better served by asking some more relevant questions, such as whether a price cap is the best method of delivering relief to consumers.
SummarySummary Companies Coal miners struggling to fund expansion plansThermal coal costs more than coking coal after price surgeMost Western bankers pulling back from coal industryLONDON, Nov 24 (Reuters) - It's the best of times, it's the worst of times. At least when it comes to mining coal. With funding hard to come by from Western banks, coal miners outside China have turned more to equity markets this year. "With regard to thermal coal mining, any transaction in coal mining requires an enhanced environmental risk review," a Deutsche spokesperson said, adding that the bank was updating its coal policy. Bens Creek listed shares partly because of the lack of appetite from banks to support any expansion of coal mining, chief executive Wilson said.
JAKARTA, Nov 16 (Reuters) - Coal miner PT Indika Energy (INDY.JK) and Taiwan-based Foxconn (2317.TW), which are partnering to make electric vehicles in Indonesia, are considering bringing in a Thai firm as a third partner, Indika's top executive told Reuters on Wednesday. Arsjad Rasjid, President Director of Indonesian miner Indika, declined to name the Thai company nor any target for the completion of the partnership due to ongoing negotiations, but said the three could invest in EV or EV battery production. In September, Indika and Foxconn launched a $2 billion joint venture to make EVs, batteries and energy storage in Indonesia. Foxconn, Apple's biggest iPhone maker, also has a $1 billion joint venture with Thai energy group PTT (PTT.BK) to produce battery EVs. Indika is one of the top coal miners in Indonesia, which is the world's biggest coal exporter.
The Decline of Work
  + stars: | 2022-11-14 | by ( Andy Kessler | ) www.wsj.com   time to read: +1 min
Or “I need a good work-life balance,” which suggests someone doesn’t want to work very hard. The CEO of a Fortune 500 company told me he recently spent an entire afternoon discussing his company’s pet-bereavement policy. He asked the human-resources folks, “Let me get this right, someone’s goldfish dies, and they get a week off from work?”Work has become a dirty word. And now this: The New York Times ran an opinion piece titled “How to Fight Back Against the Inhumanity of Modern Work.” What? The prevailing thinking is we’re all Lucy Ricardo and Ethel Mertz wrapping chocolates on a conveyor belt.
The US will be replacing coal plants across the country, President Biden said last Friday. "No one is building new coal plants because they can't rely on it," he said. Nearly one-third of the country's coal plants have been shut down since 2008. While President Biden is unlikely to use his authority to directly shut down US coal plants, legislation like the IRA undoubtedly lays the groundwork for a shift away from the industry moving forward. Even before oil and gas prices surged earlier this year, solar and wind energy was already cheaper to produce.
Representatives of coal miners in Indonesia and Australia, the world's two largest exporters of thermal coal, were ebullient at the Coaltrans event, but also cautious that the current windfall is unlikely to last beyond 2023 or 2024. In theory both of these solutions do offer some hope for coal miners, but then the main problem comes in. For higher energy Australian thermal coal the cost of the offsets is even less, given its current high price, coming in at just over 2%. Also, as coal miners, and other polluters, compete for offsets, the price will invariably rise, thereby adding to the cost. For exporting coal miners, there is probably a narrow path to remaining in business for the long term.
Australia is raking in huge amounts of cash from coal—due both to bad geopolitics and bad weather. The war in Ukraine is a key factor boosting benchmark Asian coal prices, which recently hit a new high. But some very unusual weather is shutting mines and transport links down under. In the short term, Australia, one of the world’s two top coal exporters, and coal miners like Glencore will benefit from even more pricing power.
Now it bustles with vessels loading up with coal, as Russia's invasion of Ukraine drives a worldwide race for the polluting fuel. The resurgent coal demand, driven by governments trying to wean themselves off Russian energy while keeping a lid on power prices, clashes with climate plans to shift away from the most polluting fossil fuel. Global seaborne thermal coal imports reached 97.8 million tonnes in July, the highest level on record and up more than 9% year-on-year, an analysis from ship broker Braemar shows. The bloc's ban on Russian coal imports has further increased pressure on electricity generators to find alternative sources of the fuel. Russia usually provides about 70% of the EU's thermal coal, according to the Brussels-based think-tank Bruegel, while it typically supplies 40% of the bloc's natural gas.
Total: 18