While the declining price of natural gas (UNG, quote) has driven coal (KOL, quote) down to record low levels of usage in the United States, consumption in emerging market countries such as China is increasing.
The allure of the American West has long drawn tourists and adventurers from around the globe to explore the rolling expanses of the Great Plains, and challenge the towering heights of the Rocky and Sierra Mountain ranges.
Like natural gas, coal is an energy sector that has suffered from declining growth around the world, particularly in China.
The price of coking coal has fallen up to 20% for the January-March quarter according to Indian government officials, reversing last year’s extreme strength in this key steelmaking commodity.
Coal miners rose Tuesday for the first day of trade in the new year after federal court appeals pushed back the EPA deadline for better air quality across 27 states.
Banpu (BNPJF, quote), the Thai coal mining and energy company, posted an unexpected 7% boost in third quarter profits. While profits are down 68% compared to the equivalent period in 2010 and Banpu is projected to post an even weaker fourth quarter, KT-ZMICO is upgrading the company’s 2011 earnings forecast by 5% to 6%.
The government of Mongolia is backing away from a threat to demand a majority stake in one of the world’s biggest new copper mines, where its partners have already sunk $2.6 billion with the project only half completed.
While industrial consumers are a little cautious, one of the world’s largest mining companies says its order books remain full — and you can see markets rewarding the news.