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A unit of Chinese refiner Sinopec has won mining rights to develop a coal mine in the Inner Mongolia region of the country for 30.15 billion yuan ($4.36 billion), a company representative said on Friday.
China has usurped India as the premier importer of lower-grade Australian thermal coal, but there are questions as to whether the shift is structural or driven by temporary price factors.
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EU countries approved sweeping changes to the region's carbon trading scheme and emissions laws this week, making industrial pollution more costly while generating billions of euros for funds to be used to accelerate Europe's energy transition.
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Canadian miner Teck Resources , the target of an unsolicited takeover bid by Glencore , narrowly missed first-quarter estimates on Wednesday, hit by lower prices, weak copper and zinc sales and higher expenses.
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Teck Resources Ltd withdrew its plan to split in two on Wednesday, a surprise development just ahead of a key shareholder vote, as the miner sought to fend off a $22.5 billion takeover attempt from Glencore Plc .