China aggression

It seems the days when Australian mining magnates could dictate terms to Chinese buyers are over.

The South China Morning Post points to a string of unsolicited takeover bids this year as proof that Chinese buyers are prepared to bypass the tycoons and go straight to the shareholders.

In the past two weeks alone there have been two unsolicited $US1 billion unsolicited bids from state-owned firms wanting their piece of the Australian resources dream.

Arguably the highest profile has been Baosteel’s play for Aquila Resources, launched after Baosteel could not secure a meeting with 29% owner Tony Poli.

However, there have been smaller plays too, such as China Kingho Energy’s $A71 million takeover of coal hunter Carabella Resources.

Chemical stop

Two coal companies with operations in West Virginia have stopped using the chemical that contaminated the state’s water supply early this year, the Wall Street Journal reports.

The state found 25 of the 90 coal processing plants in the state were using MCHM at the time of the Charleston spill. All three of those water samples showed the chemical was being released into nearby creeks.

Arch Coal and Alpha Natural Resources have since stopped using MCHM – an oily substance with a licorice-like odour that is used to help separate fine coal particles from impurities such as silica and clay in processing tanks.

Plugging some rat holes

Coal transport from rat-hole mining has been stopped in the Indian state of Meghalaya following the interim order of India’s National Green Tribunal.

Meghalaya director general of police PJP Hanaman believes that when there is no transport, production of coal will automatically be stopped in remote areas where the coal mines are located.

Coal miners in the state have called for a 12-hour strike on Saturday in protest against the NGT’s decision.