MINING - The Salt Lake Tribune http://www.sltrib.com/feeds/topics/MINING News from The Salt Lake Tribune en-us webmaster@sltrib.com (Webmaster) Cheap coal attracts small buyers for mines http://www.sltrib.com/sltrib/money/58478075-79/coal-mining-mines-million.html.csp <div class="hnews hentry item"> <h4><a class="url entry-title" href="http://www.sltrib.com/sltrib/money/58478075-79/coal-mining-mines-million.html.csp">Cheap coal attracts small buyers for mines</a></h4> <span class="author vcard"><span class="fn">By Tim Loh</span></span> <span class="source-org vcard"><span class="org fn"> Bloomberg News</span></span> <h5><span class="updated" title="2014-10-01T18:33:02.003-06:00">Updated Oct 1, 2014 06:33PM MDT</span></h5> <div class ="entry-content">New York • Russian steelmaker Severstal got $60 million when it sold PBS Coals in July, less than a tenth of what it paid for the Appalachia mining company six years ago. The worst U.S. coal market in decades is driving Severstal and other big mine owners for the exit, and a new class of buyers has emerged. The acquirers are smaller, backed by family fortunes, hedge-fund money and private equity companies. They’re betting they can find value during the slump. “In any sort of cyclical industry, y...</div> <h5><a rel="item-license" href="http://www.sltrib.com/pages/privacy"> Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.</a></h5> </div> 58478075@www.sltrib.com Wed, 01 Oct 2014 18:33:02 MDT Chile’s president trying to revive aging copper mines http://www.sltrib.com/sltrib/money/58443268-79/codelco-copper-bachelet-government.html.csp <div class="hnews hentry item"> <h4><a class="url entry-title" href="http://www.sltrib.com/sltrib/money/58443268-79/codelco-copper-bachelet-government.html.csp">Chile’s president trying to revive aging copper mines</a></h4> <span class="author vcard"><span class="fn">By Matt Craze</span></span> <span class="source-org vcard"><span class="org fn"> Bloomberg News</span></span> <h5><span class="updated" title="2014-09-22T17:19:01.579-06:00">Updated Sep 22, 2014 05:19PM MDT</span></h5> <div class ="entry-content">Santiago, Chile • President Michelle Bachelet rolled to victory last year on pledges to ramp up spending on education. Now she’s in a race against time to revive the government’s biggest source of revenue, copper producer Codelco. With executives of the state-owned company warning that output could drop by almost half in six years, Bachelet has given clearance for Codelco to spend $23.5 billion to revamp century-old mines that are running out of profitable ore, and has pledged to sell $4 billion...</div> <h5><a rel="item-license" href="http://www.sltrib.com/pages/privacy"> Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.</a></h5> </div> 58443268@www.sltrib.com Mon, 22 Sep 2014 17:19:01 MDT Mexican mining firm complains about spill probe http://www.sltrib.com/sltrib/money/58323372-79/spill-company-copper-mexican.html.csp <div class="hnews hentry item"> <h4><a class="url entry-title" href="http://www.sltrib.com/sltrib/money/58323372-79/spill-company-copper-mexican.html.csp">Mexican mining firm complains about spill probe</a></h4> <span class="author source-org vcard"><span class="org fn">The Associated Press</span></span> <h5><span class="updated" title="2014-08-21T17:39:01.548-06:00">Updated Aug 21, 2014 05:39PM MDT</span></h5> <div class ="entry-content">Mexico City • A mining conglomerate charged Thursday that it is being subjected to “punitive” legal actions by Mexican officials because one of its mines spilled acid-laced copper sulfate and heavy metals into two rivers. Environmental authorities have ordered a full inspection of Grupo Mexico’s Buenavista copper mine near the U.S. border and threatened possible fines of up to $3 million. Prosecutors, meanwhile, have filed a criminal complaint over the spill, which caused water supplies to be sh...</div> <h5><a rel="item-license" href="#license-583233722014-08-21T17:39:01.548-06:00" id="#license-2014-08-21T17:39:01.548-06:00"> Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.</a></h5> </div> 58323372@www.sltrib.com Thu, 21 Aug 2014 17:39:01 MDT Mining giant Glencore swings to 8 percent profit http://www.sltrib.com/sltrib/money/58317264-79/profit-billion-glencore-company.html.csp <div class="hnews hentry item"> <h4><a class="url entry-title" href="http://www.sltrib.com/sltrib/money/58317264-79/profit-billion-glencore-company.html.csp">Mining giant Glencore swings to 8 percent profit</a></h4> <span class="author source-org vcard"><span class="org fn">The Associated Press</span></span> <h5><span class="updated" title="2014-08-20T10:03:01.776-06:00">Updated Aug 20, 2014 10:03AM MDT</span></h5> <div class ="entry-content">GENEVA • Commodities and mining group Glencore PLC says it will buy back up to $1 billion of its own shares as profit for the first half of the year rose 8 percent. The Swiss-based company, which created an industry giant through the merger between Glencore and Xstrata, says the repurchasing of shares will run through the end of March. In its financial statement released Wednesday, the company says its adjusted net profit was $2.01 billion in the first six months of the year, up from a restated ...</div> <h5><a rel="item-license" href="#license-583172642014-08-20T10:03:01.776-06:00" id="#license-2014-08-20T10:03:01.776-06:00"> Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.</a></h5> </div> 58317264@www.sltrib.com Wed, 20 Aug 2014 10:03:01 MDT