Foresight checks out Moranbah North
Foresight Reserves boss Chris Cline was spotted on Monday touring the Moranbah North coal mine in Queensland, which has been placed up for sale by struggling miner Anglo American, according to the Australian Financial Review.
Anglo has placed its portfolio of Queensland coal mines on the block as part of a sweeping global asset sale program designed to help it turn its business around.
Private equity giant Apollo Global Management is also running its eye over the assets as part of a heavyweight consortium with Pennsylvania coal exporter Xcoal Energy & Resources.
BHP Billiton's union-buster sails into coal
BHP Billiton has introduced a non-union tug boat operator to its Queensland coal terminal in a move that affirms its embrace of the novel employment model used to relieve the Maritime Union of Australia of its coverage of Australia's biggest iron ore port, according to the Australian Financial Review.
BHP has awarded the tug boat contract for its Hay Point coal terminal to Rivtow Marine, the same independent Queensland firm that has been running the non-union tug crews out of Port Hedland since November last year.
Burning all fossil fuels would ‘cook’ Earth: report
The Sydney Morning Herald reports that burning all the world's known fossil fuels would result in the release of the equivalent of 5 trillion tonnes of carbon dioxide and drive global temperatures 8 degrees warmer than pre-industrial levels by 2300, a report by Canadian researchers has found.
The study, published on Tuesday in Nature Climate Change, extended models used for the Intergovernmental Panel on Climate Change and found impacts that were “considerably larger” than previously indicated.