Business
Glencore has made a huge strategic move with coal by buying Teck Resources’ coal business for $US6.9 billion ($A10.6 billion) allowing it to eventually bundle its Queensland and NSW coal operations into a spin-off of a coal giant.
Business
Critical Minerals Group has revealed its planned Lindfield vanadium project would be viable and have a net present value of $778 million and a direct capital cost of $402 million.
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India’s Tata Steel said it was willing to underwrite coal developments in Queensland to spark a resurgence in investment and development it needs for its booming steel industry.
Queensland’s prime export commodity, the premium coking coal from the Bowen Basin, has experienced dramatic price falls of more than $US400 a tonne ($A570) since March-April.
Japan’s biggest steel maker and a major buyer of Queensland’s coal, Nippon Steel, has announced it would supply carbon neutral steel by 2024.
Brisbane-based Stanmore Resources will tap the markets for $US506 million ($A694 million) to fund its purchase of BHP’s stake in a Queensland coal joint venture, known as BMC.
