In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the world’s fourth-largest commodity trader with revenue topping $100 billion last year.
Anglo American Plc’s decision to quit plans for a coal port expansion in Australia leaves Indian billionaires G.V. Krishna Reddy and Gautam Adani as the last major investors left looking at extending the terminal.
Eskom Holdings SOC Ltd. began rolling scheduled blackouts in South Africa for the first time in six years after rain disrupted the state-run utility’s supply of coal, burned to generate more than 80 percent of power.
Indonesia should keep more resources such as natural gas at home to bolster its domestic industries, according to Aburizal Bakrie, who rates himself the favorite to win a presidential election to be held in July.
Alpha Natural Resources Inc., the second-largest U.S. coal producer, agreed to pay a $27.5 million fine and spend about $200 million to implement wastewater treatment systems under a proposed settlement with the U.S. government over toxic discharges from its mines in five states.
At one of the world’s largest coal mines in the Indonesian province of South Kalimantan, enough of the fossil fuel is being stolen every three days to fill a vessel almost the size of the Chrysler Building, according to two people with knowledge of the situation.
Glencore Xstrata Plc Chief Executive Officer Ivan Glasenberg said the world’s fourth-biggest mining company remains in talks with China Minmetals Corp. for an asset that’s been valued at more than $5 billion.