The company says the decrease in its adjusted profit was due primarily to lower prices and sales volumes in its
steelmaking coal business compared with a year ago.
Wilbur Ross most recently ran a private equity firm, doing leveraged buying outs of battered companies in the steel and
coal business among others, before taking the job as head of the Department of Commerce under Trump.
However, BHP said it has built stockpiles in the
thermal coal business, which will help boost sales in the June quarter.
But the miner reduced coal guidance from its Illawarra
metallurgical coal business by 9 per cent to 4.1 million tonnes, as it continues to work to fix a series of issues at its Appin mine.
Democratic Senator Joe Manchin of West Virginia, speaking for his home -
state coal business, called the administration's approach «impossible.»
While Teck Resources is a diversified miner, its
steelmaking coal business is its profit center thanks to the high price that type of coal fetches in the global marketplace.
However, as things currently stand, Teck's steelmaking
coal business will be a cash cow and not a growth vehicle.
RBC analyst Paul Hissey said the problems in
the coal business remained something to watch, despite the momentum South32 was enjoying from better commodity prices.
For one thing, each time the carbon tax idea has come up in Congress, it has been met with resistance by large numbers of lawmakers, as well as much of the domestic fossil fuel industry — especially
the coal business — and politically influential organizations, including the American Petroleum Institute.
Over a morning tea with Sam Walsh in early 2015 it first became apparent that Rio Tinto had put an exit sign over
its coal business.
Ontario «is in
the coal business again,» said Progressive Conservative MPP Todd Smith (Prince Edward - Hastings).
Zamzows began as a coal and feed store in 1933, adding lawn and garden supplies to its assortment in the 1970s as
the coal business started to slow and Boise became more urban.
If they are successful, the only winners will be oil, gas and
coal businesses or nuclear (until the changes they've engineered destroy them too).
A friend of his in
the coal business recently likened CCS to «a lot of foreplay and no satisfaction.»
«We don't have good reserves numbers in
the coal business,» says David Brewer of CoalPro, the UK mine owners» association.
We have to amplify our call, act fast and deter any efforts aimed at setting up
coal business in Kenya.»