Lower-grade demand weighs on thermal coal price

Emerging market demand for lower-quality thermal coals is expected to alter the current pricing mechanism, with Indian and Chinese power stations better equipped to handle mid-range coals, according to the AFR.

Australia and New Zealand Banking Group head commodity strategist Mark Pervan says the Newcastle benchmark, which is based on 6000 kilocalorie a kilogram thermal coal export prices, will lose its relevance as the market for lower qualities grows.

Diesel rebate for miners facing further cuts

THE federal government is understood to be examining further cuts to the diesel fuel rebate scheme for miners as it looks for savings in its bid to cement a budget surplus for the 2012-13 year, The Australian reports.

Sources have told The Australian that the rebate scheme, which was wound back for miners as part of the carbon pricing scheme from July 1, will be examined for another cut as the government seeks savings.

Mining approval hoops will affect coal supply: New Hope

New Hope managing director Robert Neale says increasingly arduous state and federal mining approval processes could reduce the nation's coal supply, The Australian reports.

He cited environment minister Tony Burke's recent rejection of a Rio Tinto shipping plan as an example of a growing trend.

Mining contractors clean up

The shares of the top resources contractors are hitting all-time highs this month after running hard since the beginning of the year, WestBusiness reports.

mining services providers NRW Holdings and Ausdrill set records in yesterday's trading, leaving their stock respectively up 65% and 42% for the year to date.

Both companies wielded impressive numbers in their half-year reports and have surged past the $1 billion market capitalisation milestone.