Blackjewel

IEEFA Research

IEEFA Australia: BHP to link executive compensation to reductions in emissions generated from the use of its products

IEEFA Australia: BHP to link executive compensation to reductions in emissions generated from the use of its products

Evaluating and reporting Scope 1-3 emissions is a landmark commitment, showing leadership towards implementation of the Paris Agreement

23 July 2019 (SYDNEY)  — BHP Group announced plans today to link company executive compensation to reductions in the total emissions of its product portfolio, with the landmark decision to include Scope 3 emissions – the carbon emissions generated by customers’ use of BHP products like coal, oil and gas. In addition to gas (LNG), […]

July 23, 2019 Read More →
IEEFA report: Powder River Basin coal industry  is in long-term decline

IEEFA report: Powder River Basin coal industry is in long-term decline

Fast-changing markets indicate deeper downturns to come in Montana and Wyoming

March 18, 2019 (IEEFA U.S.) — Coal producers in the Powder River Basin continue to lose customers as utilities across the U.S. embrace a shift toward cleaner and cheaper forms of power generation, according to a report published today by the Institute for Energy Economics and Financial Analysis (IEEFA). The report — Powder River Basin Coal […]

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Powder River Basin customers burned 42% less coal last year

E&E News ($): Customers of mines in Wyoming and Montana burned as much as 42% less coal last year, according to a new analysis estimating which operations are most at risk of closing. The Powder River Basin mines about 40% of the country’s coal, but the region’s sprawling open pits have seen production cut by […]

May 20, 2021 Read More →
IEEFA U.S.: Peabody’s $1.42 billion write-down concedes coal mines have little value and dim future

IEEFA U.S.: Peabody’s $1.42 billion write-down concedes coal mines have little value and dim future

Trouble at biggest mine in Powder River Basin speaks volumes about state of industry

Peabody Energy, the world’s largest privately owned coal company and the biggest U.S. coal producer, has finally acknowledged a long-apparent reality: Thermal coal mines in the U.S. have little value anymore and not much of a future.  The company said as much earlier this month when it slashed the book value of the largest coal […]

August 6, 2020 Read More →

IEEFA Energy Finance Conference 2020: Coal, LNG, petrochemical sectors face poor outlook and uphill battle for investors

Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic

Three major fossil fuel-based industries—coal, liquefied natural gas, and plastics—were becoming less financially attractive even before the global coronavirus pandemic, according to experts who spoke during the second week of IEEFA’s 2020 Energy Finance Conference. The annual meeting of international energy, finance and policy experts, which was offered online this year because of COVID-related restrictions, […]

July 24, 2020 Read More →

Powder River Basin coal production fell 14% in fourth quarter compared to year earlier

Casper Star Tribune: Powder River Basin coal production fell nearly 14 percent last quarter compared to the same period the year before — the lowest production totals for the region in over two decades, new data Monday from U.S. Mine Safety and Health Administration revealed. The basin’s 16 mines produced 72.3 million tons of coal […]

February 5, 2020 Read More →
IEEFA U.S.: The coal rebound that didn’t happen
and

IEEFA U.S.: The coal rebound that didn’t happen

Industry continues to struggle against increasingly competitive market forces

Some energy pundits have spoken in recent times of an impending U.S. coal renaissance. The Heritage Foundation trumpeted coal’s “Colossal Comeback” in 2017, and a Wall Street Journal reporter in 2018 wrote of its global “resilience.” Industry executives three years ago credited the newly-elected Trump administration with paving the way for fresh investments in new […]

U.S. coal mining jobs fall to near-record low levels

Wyoming Public Media: Coal mine employment in the U.S. has fallen to nearly its lowest level since the industry began reporting it. The industry has lost 2,206 jobs since the start of this year, according to updated data from the U.S. Mine Safety and Health Administration (MSHA). The current average number of coal mine employees […]

November 26, 2019 Read More →

Navajo Nation president says NTEC is on its own in purchase of Powder River Basin coal mines

The Salt Lake Tribune: The Navajo Nation will not financially back bonds a tribal energy company needs for a trio of newly acquired coal mines off the reservation, the tribal president said Tuesday, explaining that it’s too risky and his administration wants the company to move away from coal. The Navajo Transitional Energy Co. recently […]

November 13, 2019 Read More →

Bankrupt coal giants hand unwanted mines to unknown firms

E&E News: GILLETTE, Wyo. — For years, the coal companies operating on the high plains here were among the best known in the world: Peabody Energy Corp., Rio Tinto, Arch Coal Inc. But as the coal industry contracts, the former giants are being replaced by a different brand of mining firm: virtual unknowns. A pair […]

November 5, 2019 Read More →

Blackjewel agrees to pay back wages to coal miners in Kentucky

Associated Press: Coal miners who blocked train tracks in Kentucky demanding to get paid for the coal they mined will benefit from a federal deal with the bankrupt company. Agreements filed in U.S. District Court this week will pay out nearly $5.5 million in back pay to miners from Blackjewel LLC’s eastern mines. The checks […]

October 25, 2019 Read More →

Murray Energy, largest private U.S. coal company, facing serious financial difficulties

Bloomberg: Murray Energy Corp., the U.S. coal giant that had pressed the Trump administration for help averting bankruptcy, may be headed toward default. The largest closely held coal miner in America failed to make multiple payments to lenders this week, the company said in a statement on Wednesday. Creditors have agreed not to take legal […]

October 3, 2019 Read More →