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 Peabody Completes Sale of Majority of Inactive Burton Mine to Lenton Joint Venture

Peabody announced today that it has completed the sale of the majority of its inactive Burton Mine and related infrastructure to the Lenton Joint Venture for approximately US$11 million, subject to certain customary post-closing adjustments.  

In addition to receipt of cash proceeds from the sale, the transaction reduces Peabody's asset retirement obligation by approximately US$41 million.  The sale also provides for the release of approximately US$30 million of restricted cash in support of such asset retirement obligation, which combined with the company's recently announced revolving credit facility, is expected to free up approximately US$300 million in cash. 

Peabody placed the Burton Mine on care, maintenance and rehabilitation in December 2016 and announced the sale of the mine in September 2017.  The Lenton Joint Venture, of which New Hope Coal is a 90 percent participant, controls mining tenements that adjoin the Burton Mine located in Queenland's Bowen Basin. 

To continue reading, click here to view the full article on CoalZoom.com. 

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Caterpillar Tells Miners How Cat Large Trucks Can Boost Their Bottom Line

Caterpillar recently hosted about 100 targeted customers and Cat® dealers to a two-day program focused solely on large mining trucks — introducing two new models, providing an update on all Cat ultra-class models, and launching a new message around the entire Cat truck lineup.

The event included the official launch of two new electric–drive trucks — the 326-tonne (360-ton) 796 AC and 372-tonne (410-ton) 798 AC — which fill gaps in terms of payload and give Caterpillar the most comprehensive lineup in the mining industry.

“We now have a truck for every site or application with a complete lineup of perfectly matched loading tools,” says Global Product Manager Sudhanshu Singh. “That allows us to deliver a loading and hauling solution that is the ideal fit for every operation.”

The large mining truck program, held at the company’s Tinaja Hills Demonstration & Learning Center near Tucson, Arizona, USA, included presentations from subject matter experts, equipment demonstrations, in-the-iron time, question-and-answer sessions, and a special choreographed night demonstration that ended with a dramatic first look at the new 798 truck.

To continue reading, click here to view the full article on CoalZoom.com. 

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Coal is Still King in Power Production

Coal remains the most widely used means of electricity production in the world. It also happens to be the biggest emitter of climate-changing carbon dioxide of any fuel.

Despite efforts to tackle global warming, worldwide demand for coal was up one percent last year, mainly due to demand in Asia.

China is by far the biggest consumer of coal which is mainly used to produce electricity.

However even in China there is now political pressure to improve air quality in urban areas, with a new trend towards using natural gas and renewables.

In 2017, after two years of declines, International Energy Agency figures showed global coal demand rising to 5.357 million tonnes of coal equivalent (TCE).

To continue reading, click here to view the full article on CoalZoom.com. 

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 Politicized Climate Report Released Just in Time for UN Conference

At the end of every year the UN hosts a major climate summit.

Team warming helps out by realizing a report or two laden with pronouncements of doom based on unrealistically extreme scenarios just before the big event.

This year it's part two of the U.S. National Climate Assessment.

Marc Morano has detailed coverage at CFACT's Climate Depot.  Here's the tip of the (not-melting) iceberg:

Climate experts call out new federal report for hiding the decline in hurricanes – ‘Were they thinking, no one would notice?’

Dr. Roger Pielke Jr.: The claim of economic damage from climate change is based on a 15 degree F temp increase that is double the 'most extreme value reported elsewhere in the report.'

The 'sole editor' of this claim in the report was an alumni of the Center for American Progress, which is also funded by Tom Styer.

To continue reading, click here to view the full article on CoalZoom.com. 

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The World Needs Affordable, Reliable Energy. Coal is Here to Stay.

The New York Times has once again discovered that the world needs coal.

In a recent piece examining – or more accurately, demonizing – coal’s staying power, particularly in Asia, The Times gave a glancing and biased treatment of a selection of reasons big and small for why coal remains the world’s leading fuel for electricity generation. As one might expect, this discussion was singularly framed by climate change and the perspective that to tackle the problem, the world must quit the very fuel that it continues to lean on for a stable, secure supply of electricity and the engine for industrialization and electrification.  

The Times offers a convincing imitation of balance, begrudgingly acknowledging that coal remains globally important for some obvious reasons. It’s affordable and abundant, electricity grids are designed for it and the infrastructure to use it – thousands of coal plants in dozens of nations – already exist and continue to be built. And despite the wishful thinking of those that want to see the age of coal end, there are, by even the most generous estimates, tremendous limitations to the renewable sources of energy promoted as its replacements.

To continue reading, click here to view the full article on CoalZoom.com. 

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