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Stock Market & Financial Investment News

News Breaks
March 18, 2013
11:40 EDTBTUPeabody Energy sees FY13 CapEx $450M-$550M, ~50% below 2012 levels
Says coal market demand rising in 2013 on higher steel production, generation. Sees global steel production growth of about 3%, says seaborne thermal demand expected to increase 40-50M tonnes on growing Asian demand. Sees U.S. coal generation rising 40-60M tons in 2013. Says sees FY13 U.S. production of 180M-190M tons. Comments from slides that will be presented at the Howard Weil Annual Energy Conference.
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August 14, 2014
08:21 EDTBTUWhile Appalachian mines close, U.S. ramps up coal imports, WSJ says
Coal imports surged 44% to 5.4M metric tons during the first six months of this year compared with last, despite coal mines closing throughout the Appalachia region, reported The Wall Street Journal, which noted that IHS Energy said it costs $26 a ton to ship coal from Central Appalachia to Florida but only $15 a ton to get coal from a mine in Colombia. Imports supply just 1% of U.S. coal consumption, but the imports, especially from Colombia, "are a factor" in mine closings, the report added. Publicly traded coal companies include Alpha Natural (ANR), Arch Coal (ACI), CONSOL (CNX), Cloud Peak (CLD), Peabody (BTU), Alliance Resource Partners (ARLP), and Walter Energy (WLT). Reference Link

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