Read more about JSPL gains on bagging Gare Palma IV/1 coal mine on Business Standard. Jindal Steel & Power (JSPL) rose 1.71% to Rs 270.60 after the company said its subsidiary, Jindal Power, was declared the successful bidder for Gare Palma IV/1 coal mine by the Ministry of Coal.
Written by Associated Press on December 29, 2020
GILLETTE, Wyo. (AP) A St. Louis-based energy company and the largest thermal coal producer in the Powder River Basin has announced an agreement with its creditors to refinance $459 million of debt, potentially staving off a second bankruptcy in five years.
The agreement by Peabody Energy Corp. includes all of its revolving lenders and about 65% of its 6% senior secured notes due in 2022, the Gillette News Record reported Monday.
The creditors have agreed to extend the 2022 notes another two years, officials said. Credit lenders also have agreed to convert existing debt into a new loan also due in December 2024.
Providing coverage of Alaska and northern Canada s oil and gas industry
Critics pounce on report focusing on Indigenous LNG equity stakes
Gary Park
for Petroleum News
No sooner was a Canadian study released drumming up a case for the benefits of LNG development to Indigenous communities than it was being shredded by environmental organizations opposed to any commercial use of natural gas.
The Conference Board of Canada report, commissioned and funded by the Canad..
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Terminal on traditional territory
(Repeats for Asian morning readership. No change to text.)
BEIJING/YIWU, China, Dec 24 (Reuters) - China’s harsh winter and stunning manufacturing recovery this year have pushed up electricity demand across the country’s industrial belt, complicating Beijing’s drive to cut businesses’ power usage and their reliance on polluting coal-fired energy.
The surge in demand also comes as the cold hampers the ability of renewable energy to fill the gap left by a severe coal shortage, raising doubts about the reliability of cleaner sources to power the world’s second-largest economy during critical periods.
In Zhejiang province, an economic powerhouse in eastern China, cities including Wenzhou and Yiwu told factories to scale back production and government departments were told not to turn on heat unless temperatures fall below 3 Celsius.
Kibo’s Mozambican coal power plant gains coal supply security Term sheet with Vale to turn into definitive deal once state utility gets on board BL PREMIUM 22 December 2020 - 15:34 Lisa Steyn
Kibo Energy, an Africa-focused power project listed on the JSE and London’s Alternative Investments Market (AIM), has signed an agreement to secure coal supply from miner Vale for its Benga power plant in Mozambique.
Kibo on Tuesday said it has secured a mutually binding “coal supply term sheet” with the multinational resources giant Vale. The term sheet sets outs basic terms and conditions and in this case, Kibo said, it will be converted into a definitive coal supply agreement at the time that a power purchase agreement is finalised with Mozambique power utility, Electricidade de Mocambique (EDM).