IIR's Metals & Minerals News Headlines for the Week of August 3-7, 2015

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News highlights gathered by Industrial Info (Sugar Land, Texas) over the past week.

Mining
Newmont Mining Corporation (NYSE:NEM) (Greenwood Village, Colorado) is scheduled to close in the next couple of weeks on its acquisition of the Cresson Gold Mine from Cripple Creek & Victor Gold Mining Company, a subsidiary of AngloGold Ashanti (NYSE:AU) (Johannesburg, South Africa), for $820 million. The mine is in the midst of a $585 million expansion scheduled for completion next year. Future plans envision an underground mine addition.

Alpha Natural Resources, at one time the fourth largest miner of coal in the U.S., filed for bankruptcy protection this week. This is the latest in a series of coal mining firm bankruptcies, closures and layoffs over the past two years as the market for coal in the U.S. has declined significantly.

The finalized Clean Power Plan was released this week. Targeting a reduction in carbon dioxide emissions from coal-fired power plants by 32% by 2030, the plan met strong opposition from coal mining firms like Arch Coal (NYSE:ACI) (St. Louis, Missouri), which are experiencing significant loss of market in recent years resulting in mine closures, layoffs and bankruptcies across the industry in the U.S. For details, read this week's related news article, titled: Obama Unveils Final Clean Power Plan, But Will it Survive Court Challenge?

Sasol Limited (NYSE:SSL) has started mining operations at the new Impumelelo Coal Mine in Eastern Transvaal, South Africa. The mine will ramp up to a production capacity of 10.5 million tons per year. Construction began in 2012. RSV Enco Consulting (Marshalltown, South Africa) provided engineering, procurement and construction management services for the project. Murray & Roberts Cementation (Bedfordview, South Africa) provided shaft sinking services. The plant will supply coal to the nearby Sasol Synfuels plant.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.