Twitter

Coal

Major shareholder voted against Glencore’s climate report as miner eyes Teck’s coal unit – by Naimul Karim (Financial Post – September 7, 2023)

https://financialpost.com/

BlackRock concerned about ‘inconsistencies’ in strategy

BlackRock Inc. has revealed it didn’t support Glencore PLC‘s climate-resolution proposal at the miner’s annual general meeting in May.

In a report published late last month, BlackRock, a major Glencore shareholder, said that although Glencore improved its disclosure of climate-related risks and opportunities, it is “concerned” that aspects of the mining giant’s climate proposals and “recent developments have pointed to inconsistencies in the company’s stated strategy.”

Read more

China says its coal emissions are no big deal — over to you, Steven Guilbeault – by Lorrie Goldstein (Toronto Sun – August 30, 2023)

https://torontosun.com/

While Environment Minister Steven Guilbeault was in Beijing this week to discuss ways China and Canada can reduce their greenhouse gas emissions, one of China’s major state-run media organizations wrote an editorial headlined “Western concerns about China’s coal power growth unnecessary.”

Global Times, which operates under the auspices of the Chinese Communist Party’s flagship newspaper, the People’s Daily, said while “China’s decision to build more new coal-fired power plants has raised questions in the West as to whether the country will meet its 2030 carbon pledge … the concern is unnecessary as China’s pursuit of carbon goals is on par with its focus on economic development.”

Read more

China coal power spree continues at frantic pace with 300+ plants in pipeline despite 2030 carbon pledge, research says – by Yujie Xue (South China Morning Post – August 29, 2023)

https://www.scmp.com/

China this year has continued a coal spree that started in the summer of 2022, approving more permits for new coal plants, commissioning newly built plants and even bringing long-dormant plants back online despite the approaching 2030 deadline for the nation to reach peak carbon emissions, according to new research.

The country approved permits for 52 gigawatts (GW) of new coal power capacity in the first half of 2023, maintaining the previous pace of approving two plants per week, according to a report published by Global Energy Monitor (GEM) and the Centre for Research on Energy and Clean Air (CREA) on Tuesday. China also doubled its commissioning of coal plants year on year, plugging 17.1GW into the grid in the first half of the year, according to the report.

Read more

Partial sale of Teck’s coal business ‘more probable,’ says Scotiabank analyst – by Naimul Karim (Financial Post – August 29, 2023)

https://financialpost.com/

Canada’s largest diversified miner could announce a ‘simpler and more direct’ plan to split company within months

Canada’s largest diversified miner Teck Resources Ltd. may announce a “simpler and more direct” plan to separate its coal assets from its metals’ unit by the end of the third quarter this year, according to an analyst at the Bank of Nova Scotia.

The Vancouver-based miner has been trying to separate its assets since February, when it announced it was going to divide itself into two publicly-listed companies to unlock shareholder value. One of the companies would focus solely on the metals needed for the energy transition, such as copper and zinc, while the other would run its steelmaking coal operations.

Read more

Russia’s Coal Basin Struggles With Closed Mines, Pollution. And Now The Toll From Ukraine War. (Radio Free Europe – August 27, 2023)

https://www.rferl.org/

PROKOPYEVSK, Russia — In the heart of the Russia’s coal-mining Kemerovo region, residents struggle with the harsh economic realities of declining wages, obsolete mine facilities, and chronic medical conditions that come from life below, and above ground.

Many are retired coal miners like Vladimir Miroshenko, 71, who recalls the halcyon days of the 1970s, when Prokopyevsk became a sister city with Horlivka, in the heart of Ukraine’s Donbas coal-mining region. Miroshenko also recalls his service in the Soviet Army in the early 1980s, during the decade-long invasion of Afghanistan.

Read more

Steven Guilbeault goes to China and burns his climate credibility – by Terry Glavin (National Post – August 23, 2023)

https://nationalpost.com/

China’s greenhouse-gas outputs have doubled and tripled, while emissions from the rest of the industrialized world have flatlined since 2001

It’s no wonder that Canadians are among the most skeptical people in the world when it comes to confidence in their government’s capacity to deal with climate change. That was the finding of a global Ipsos survey earlier this year, and there’s no reason to think that this summer’s record-breaking wildfires across Canada will change things much.

The Trudeau Liberals’ hectoring and hyperbole won’t help matters, and their invitations to cynicism are only coming thicker and faster now that Justin Trudeau’s government is sending Environment and Climate Change Minister Steven Guilbeault to Beijing to participate in a pantomime of global-warming earnestness.

Read more

Will green energy kill coal mining? Why these industry leaders say it won’t – by Amy Joi O’Donoghue (Deseret News – August 17, 2023)

https://www.deseret.com/

‘In the United States we are on a trajectory of energy poverty’

Utah’s coal country is in the midst of redefining itself. Carbon County — aptly named for its rich coal resources — saw the closure of its sole coal-fired power plant in 2015. Its mines, which historically numbered 16, are all shuttered.

Struggling against the backdrop of those tangible impacts, residents had to endure a property tax increase of 700% in fiscal year 2022. Price Mayor Mike Kourianos feels the sharp knife of energy costs slicing into his budget and has to answer for that to his constituents. There is no revenue coming from coal.

Read more

Teck planning full exit from coal business, in event of partial sale will spin off remainder – by Niall McGee (Globe and Mail – August 18, 2023)

https://www.theglobeandmail.com/

Teck Resources Ltd. intends to completely exit its coal business, but in the event of only a partial sale, would spin off the remainder to ensure a clean break, a source familiar with the situation said. The Vancouver-based mining company has been entertaining a variety of bids for its metallurgical coal business since late April after an earlier restructuring plan failed.

Teck chief executive officer Jonathan Price said in a conference call last month that there has been “a lot of interest” in the coal business since it was put out for tender. Glencore PLC of Switzerland is the only known bidder for 100 per cent of the coal segment, with an offer worth up to US$8.2-billion.

Read more

B.C. attempts to facilitate discussions with U.S. on selenium contamination from province’s coal mines – by Bob Weber (CBC News British Columbia – August 16, 2023)

https://www.cbc.ca/news/canada/british-columbia/

Toxic substance found in high levels in B.C.’s Lake Kookanusa, a reservoir that feeds into American rivers

The British Columbia government has changed its tune on a long-requested investigation into contamination from mines flowing into U.S. waters, opening the door to progress on an issue that has drawn the attention of President Joe Biden.

The province has confirmed to The Canadian Press that it would now welcome a role in such an investigation for the International Joint Commission, a body created in 1909 to resolve water-related disputes between the two countries.

Read more

Guilbeault wants China as ally, serves as adviser to Beijing – by Brian Lilley (Toronto Sun – August 16, 2023)

https://torontosun.com/

Trudeau’s environment minister is picking fights with Canada’s premiers while advising the government of coal powered China.

Justin Trudeau’s environment minister, Steven Guilbeault, is pulling double duty as an official adviser to the Chinese government. Turns out, he also wants to make Beijing an ally on the environmental issue and will head to coal-powered China at the end of the month after lecturing Canada’s premiers on using fossil fuels.

During an exclusive interview Guilbeault granted to environmental activist media outlet the National Observer, he acknowledged that he’d be criticized for the trip.

Read more

Tribes pressure Canada over Teck water concerns – by Rob Chaney (The Missoulian – August 14, 2023)

https://missoulian.com/

Acoalition of Indigenous tribes is increasing pressure on the Canadian government to respond to their concerns over transboundary water pollution coming from Teck Resources coal mines in British Columbia. The Confederated Salish and Kootenai Tribes in Montana, Kootenai Tribe of Idaho and the transboundary Ktunaxa Nation sent reminders on Aug. 11 that Canadian Prime Minister Justin Trudeau had pledged to meet this summer with U.S. President Joe Biden’s administration on reducing and mitigating the impacts of selenium and other mine-related contaminants getting into the Elk and Kootenai rivers.

Selenium in particular has been connected to significant declines in fish reproduction in the river system, along with massive fish kills near the mine site itself, although a disputed Teck study concluded that ice, not selenium was responsible for the 2017 die-off.

Read more

Coal still has role to play despite naysayers, Menar MD tells conference – by Cameron Mackay (Mining Weekly – August 15, 2023)

https://www.miningweekly.com/

Resources investment company Menar MD Vuslat Bayoglu has emphasised that South Africa is on the precipice of a significant industrial revolution.

Fuelling this revolution, however, will require a consistent and reliable baseload power source that can only be produced by coal-fired power stations, despite calls from more developed countries for South Africa to reduce its coal-fired power station capacity to achieve sustainability and carbon dioxide emission reduction goals, he said on the first day of the Southern African Coal Processing Society International Coal Conference, in Secunda, Mpumalanga, on August 15.

Read more

Investment Canada Act amendment could complicate Glencore’s pursuit of Teck – by Naill McGee (Globe and Mail – August 14, 2023)

https://www.theglobeandmail.com/

A proposed amendment to the Investment Canada Act could complicate Glencore PLC’s takeover ambitions around Canadian miner Teck Resources Ltd. Last fall, federal Industry Minister François-Philippe Champagne announced a series of changes to the Investment Canada Act that aim to toughen oversight over proposed acquisitions of domestic companies by foreigners.

The changes include requiring acquirers to give Ottawa early notification of their intent to buy Canadian companies, extending the time period for national security reviews, and increasing financial penalties for those who don’t comply with the rules.

Read more

Glencore holds back US$2B for Teck Resources as payouts drop – Thomas Biesheuvel (Bloomberg News – August 8, 2023)

https://www.bnnbloomberg.ca/

Glencore Plc underlined its continued interest in a deal with Teck Resources Ltd. by holding back US$2 billion for a potential purchase of the Canadian miner’s coal business — cash it would otherwise have returned to shareholders.

Glencore disclosed the new deals war chest in its first-half results Tuesday, as it joined rival miners in reporting a steep drop in profits after a retreat in commodity prices combined with a return to more normal trading conditions, following 2022’s wild swings.

Read more

Karagandy – Heartland of Kazakhstan’s Coal Mining Industry – by Aibarshyn Akhmetkali (The Astana Times – August 8, 2023)

https://astanatimes.com/

KARAGANDY – The city of Karagandy, Kazakhstan’s industrial powerhouse renowned for its highest quality coal, is a place with a rich history and diverse attractions to explore for a captivating weekend getaway. Almaty and Astana remain the most popular urban destinations in Kazakhstan, but the city of Karagandy, located within a three-hour drive from the capital, is fast becoming a rival attraction.

History of Karagandy

Karagandy’s economy was largely built around coal, and the gains from extraction allowed families in town to prosper. “The history of Karagandy coal began not during Soviet times, as many people use to think, but much earlier.

Read more