Coal news and updates

Amid the misery in a market strained by bankruptcies, mine closures and mass worker layoffs, coal still has at least one major supporter.

 

BHP Billiton Ltd., the world’s biggest mining company, on Tuesday sounded a bullish note on future demand and its role as a major exporter. In an investor briefing, it said the world’s appetite for coking coal, used in steelmaking, and thermal coal, which is burned to generate electricity, will rise as developing economies demand more steel and energy.

 

“We expect that thermal coal will remain front and center in Asia’s energy portfolio into the foreseeable future because it is the cheapest and most readily available source for power generation,” said Mike Henry, BHP’s head of Australian mining.

SOurce:WSJ