Coal Mining Sector News

Port of Newcastle advises that Geoff Crowe, Chief Executive Officer, has informed the Board of his intention to resign, effective at the end of June. Geoff joined Port of Newcastle in July 2015 with extensive experience in the coal mining and logistics industry. He led the development of the Port's growth and diversification strategy, including the development of plans for a cruise terminal, bulk terminal and a container terminal. "The Port of Newcastle is not only an iconic port that delivers huge economic value to our region and state as a trade gateway, it is also a valued asset for our industry and our community," said Geoff. "We have a terrific team, and I am very proud of the contribution that we have made in the last three years for the Port and our region.

Two partners in port project have entered administration means that port charges are now higher for other backers. Glencore and five other miners backing the world's most expensive coal port in Australia face extra annual charges of A$150 million after the restructuring of one of their partners this month, the latest to buckle under slumping commodity prices. The additional charge will deal a blow to the remaining backers of the A$2.6 billion ($2 billion) Wiggins Island Coal Export Terminal (WICET) in east Australia at a time when they are grappling with floundering coal markets. Mining and trading giant Glencore and seven partners began negotiations to build WICET in 2008 near the height of a coal boom…

Sennebogen expects to see its green machine material handlers taking a stronger position in West Virginia through the efforts of its newest distributor. Rish Equipment Company was recently introduced by Constantino Lannes, President of Sennebogen LLC, as the manufacturer’s authorized dealer for West Virginia. According to Rish CEO Myron Jones, the territory holds ample opportunity for his new line of purpose-built material handlers. “About 65% of our current business is in the coal and energy industries,” Jones explains.