mineral exploration project – commodity prices – mining stock- trade and market

Macarthur Coal Ltd., the world’s largest producer of pulverized coal used by steelmakers, raised its full-year profit forecast as sales increased, bolstering speculation the company may be a takeover target.

Profit, excluding accounting adjustments, may be between A$115 million ($96 million) and A$125 million for the 12 months ended June 30, compared with its earlier forecast of A$103 million to A$113 million, Macarthur said today in a statement.

The Brisbane-based company rose 5.2 percent yesterday after Thailand’s Banpu Pcl agreed to buy the rest of Centennial Coal Co. for...

Centennial Coal has accepted a cash offer with a 40 per cent premium from Thailand’s Banpu, valuing the NSW coal miner at $2.4 billion.

As revealed by The Australian on its website earlier today, Centennial confirmed Banpu — Thailand’s biggest coal producer — has offered $6.20 a share for the 80 per cent of the Hunter Valley thermal coal producer it doesn’t already own.

Banpu said it would finance the deal through cash reserves and new and existing credit facilities. JPMorgan is advising Banpu, with UBS advising Centennial.

Coal demand continues to increase, particularly of steel companies in China and India. Both these countries are the largest coal importer. Trend of increasing coal pushed some coal mining companies increase their coal production to meet demand for coal. Climatic conditions and the growth of steel industry in China is a factor affecting the increased demand for coal in China.

Coal demand continues to increase, particularly of steel companies in China and India. Both these countries are the largest coal importer. Trend of increasing coal pushed some coal mining companies increase their coal production to meet demand for coal. Climatic conditions and the growth of steel industry in China is a factor affecting the increased demand for coal in China.

Posco, South Korea’s biggest steelmaker, said an agreement on coking coal prices for this year may be delayed because major suppliers of the steelmaking ingredient demand a change in the pricing system.

To improve the regional economy, the government plans to build a Utah coal mine in the southern region of Utah. Division of Oil, Gas and Mining Utah has given initial approval to Alton Cedar City to build a coal mine covering 635 hectares in the town of Alton Kane Country. This coal mine coal is expected to produce as many as 2 million tons.

Shanxi Puda Coal Group, a subsidiary company Puda Coal, one of the largest suppliers of the largest metallurgical coking coal, signed the treaty rights and the transfer of mining assets, coal mining companies Da Wa Pinglu County Coal Co. Indsutry. Pinglu County Guanyao and Coal Industry. Puda Coal will own 100% of mining assets, all assets purchased will be placed in two newly formed companies.

Grande Cache Corp., A metallurgical coal mining company, has received permission to continue the development of surface coal mining in the Smoky River Coalfield.

Coal mines will be explored a new coal mines, mining exploration company expected to produce coal in the first quarter of 2011.