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Tag: coal
Coal giant Peabody Energy files bankruptcy as 'new clean industrial era' gathers pace
2016-04-13 11:02:00| Climate Ark Climate Change & Global Warming Newsfeed
BusinessGreen: Peabody Energy has today filed for Chapter 11 US bankruptcy protection, dealing a further blow to a global coal industry already reeling from low prices and tightening environmental regulations. The company said it had secured $800m in debtor-in-possession financing from secured and unsecured creditors and stressed all its mines and offices will continue to operate throughout the bankruptcy process. "Peabody believes that it has sufficient liquidity to operate its business worldwide post-petition...
Tags: files
industrial
energy
era
US coal major Peabody files for bankruptcy
2016-04-13 10:29:00| Climate Ark Climate Change & Global Warming Newsfeed
Climate Home: Peabody Energy, the world`s largest private coal miner, has filed for bankruptcy protection in the US. Worth almost US$20 billion in 2011, the firm`s debts ballooned over the past five years as it expanded while coal prices crashed. It cited a weak Chinese economy, competition from shale gas and "ongoing regulatory challenges" -- a nod to climate protections -- as factors. This was a difficult decision, but it is the right path forward for Peabody. We begin today to build a highly successful...
Tags: major
files
bankruptcy
coal
Bangladeshs Growing Coal Deals Prompt Criticism, Protests over Environment
2016-04-11 05:52:00| Climate Ark Climate Change & Global Warming Newsfeed
Triple Pundt: When most people think of Bangladesh`s most prolific industries, it`s garments - not coal - that comes to mind. The tiny country of Bangladesh, nestled in the armpit of India`s easternmost provinces, is second only to China in garment exports. Its booming electrified clothing industry is at the mercy of the country`s electricity grid, yet most of the current is supplied by gas exploration, not coal.That`s because, according to SourceWatch, a meager 2.5 percent of Bangladesh`s electricity is supplied...
Tags: environment
deals
growing
criticism
As coal company profits fell, mining firms rewarded executives handsomely
2016-04-10 16:00:00| Climate Ark Climate Change & Global Warming Newsfeed
Star Tribune: In 2011, the coal industry went on a shopping spree. Chinas economy was humming, and there seemed no limit to the amount of coal the countrys steel mills could consume. Americas coal companies, sensing an opportunity, rushed to acquire mines that produced the metallurgical coal essential to steel fabrication. Arch Coal paid $3.4 billion cash for the International Coal Group. Peabody Energy plunked down $5 billion for a majority stake in Australias MacArthur Coal. And Alpha Natural Resources...
Tags: company
firms
fell
profits
Czech buyers of German coal plants linked to Panama Papers
2016-04-08 17:19:00| Climate Ark Climate Change & Global Warming Newsfeed
Climate Home: Swedish utility Vattenfall poised to sell dirty lignite operations to Czech billionaires who used offshore accounts to buy yacht and property Vattenfall plans to sell its Germany lignite coal operations to Czech firms implicated in shady offshore dealing, it emerged on Friday. Energy company EPH and investment group PPF are set to take on the Swedish utility`s loss-making mines and associated power plants, Reuters reported. Climate campaigners are urging the Swedish government to block the...
Tags: german
papers
linked
czech
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