Coronado Global Resources’ Mammoth underground coal mine is set to begin mining operations, having received approval.

The price of China’s mainstay fuel, powering millions of homes and factories, has hit the lowest level in over a year, as the government’s efforts to boost the economy fail to revive tepid demand.

Exxaro Resources Ltd. has held talks with the owner of one of South Africa’s largest manganese mines about buying the asset, as the coal producer seeks to diversify its business, according to people familiar with the matter.

President Joe Biden plans to formally block the $14.1 billion sale of United States Steel Corp. to Nippon Steel Corp. on national security grounds once the deal is referred back to him later this month, people familiar with the matter said.

Nippon Steel Corp. clarified its spending plans at US mills owned by United States Steel Corp. as part of last-ditch efforts to win over workers and politicians for its bid to buy the Pittsburgh-based steelmaker.

Prices of iron ore futures strengthened for the third straight session on Wednesday, as firmer steel output outweighed a raft of weaker economic data in top consumer China.

The western region of Xinjiang is emerging as a fourth hub for Chinese coal production, creating a new well of cut-price supply just as the country tries to start weaning itself off the heavily polluting fuel.

Iron ore futures strengthened on Monday, buoyed by stronger global steel production, although mounting trade tensions surrounding top consumer China capped gains.

New Hope Group’s underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) was up 40.8 per cent for the quarter.

Iron ore futures prices fell to a three-week low on Thursday, as supply of the key steelmaking ingredient remained firm amid a weaker steel market outlook, although fresh stimulus measures by top consumer China for its property sector limited the losses.