We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
 ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia's biggest export "contract" to supply coal to China from a new Queensland mine.
China Power International Holding's senior vice-president instead described the agreement as a "framework agreement", forcing Mr Palmer into desperate damage control as he flew back to Australia from China.
Mr Palmer and Queensland Premier Anna Bligh on the weekend announced what they said was an agreement for China Power International Development to buy $US60 billion ($68.8bn) worth of coal over the next 20 years from the Galilee Basin in central Queensland.
China Power International Development, a listed company on the Hong Kong Stock Exchange, issued a statement yesterday in which it denied it had reached such an agreement.
| "We're working harder to settle the final contract, which will take some time to complete” - Mr Zhao Yazhou |
Mr Palmer then issued a statement in which he said a mistake had been made and the agreement his company, Resourcehouse, had reached was with China Power International Holding, a Chinese government-owned enterprise based in Beijing.
Mr Palmer attended a lunch in Beijing yesterday with China Power International Holding before flying to Hong Kong and then Perth, but stood by the weekend announcement of the deal and the figures in it.
However, there was further doubt cast on the strength of the deal when China Power International Holding's vice-president said it had only signed a "framework agreement".
A report of a speech by Zhao Yazhou at the lunch said the two companies were still working on the final contract, but didn't indicate when a definitive agreement would be reached.
"We're working harder to settle the final contract, which will take some time to complete," Mr Zhao said.
Xinhua, the official Chinese news agency, reported a company official as saying the two companies had signed "an agreement of intent" and they had not yet started price negotiations.
Mr Palmer's company yesterday stood by its statement that the deal was a binding contract, but said the $US60bn figure was an estimate and it would not confirm if price negotiations had been detailed in the deal.
Resourcehouse executive director Phil McNamara said the company's statement, correcting its initial release on the deal, stated that the price would be linked to the market and the $US60bn figure was an estimate over the life of the agreement.
"It is linked to the market for 20 years of supply. We have estimated what we think the value is across the life of the agreement," he said yesterday.
Mr Palmer was yesterday travelling between Beijing, Hong Kong and Perth, but a statement from him said the contract was with China Power International Holding Limited, a Chinese government-owned enterprise based in Beijing, not its Hong Kong subsidiary, China Power International Development.
Ms Bligh said she had seen the contract and while it did not mention dollar totals, it did mention tonnages, and Mr Palmer had worked out the average price over a 20-year period.
"I'm advised that it is a legally binding agreement that will underpin the price contract," she said. One China-focused lawyer said the wording around binding contract and China's rebuttal that it was an "agreement of intent", sounded similar to the recent Australian Securities & Investments Commission's case against Andrew Forrest's Fortescue Metals Group.
The corporate watchdog lost its battle to prove that Mr Forrest and Fortescue had misled the market about the status of deals signed in 2004 with Chinese companies. ASIC is now appealing the ruling.
ASIC initiated legal action against Mr Forrest and Fortescue in the Federal Court in March 2006, claiming they had engaged in misleading and deceptive conduct by overstating agreements with three Chinese companies to finance its Pilbara iron ore project.
But Mr Forrest's team argued that contracts with Chinese companies were binding.
Source: The Australian
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
Friday, 14 August 20
EIA: COAL PLANTS UNECONOMICAL IN MOST REGIONS - IEEFA
U.S. coal power generation plunged by 30 percent in the first half of 2020 off an already-depressed base, shoved out by natural gas and renewables ...
Thursday, 13 August 20
INDIA SHOULD RECORD A SLIGHT DECREASE IN THERMAL COAL IMPORTS, REACHING A VOLUME OF 167 MILLION TONS BY THE END OF 2020 - ASSOCARBONI
Regarding 2020 thermal coal imports forecasts, Vietnam’s coal imports showed a very strong growth in the first half of 2020 and it is believe ...
Thursday, 13 August 20
INDONESIA REMAINS THE LARGEST EXPORTER OF COAL IN THE WORLD - ASSOCARBONI
According to the last Assocarboni data for 2019, Indonesia remains the largest exporter in the world. Thermal coal exports have in fact reached 456 ...
Wednesday, 12 August 20
VIETNAM WAS THE PROTAGONIST OF A SIGNIFICANT INCREASE IN COAL IMPORTS IN 2019 - ASSOCARBONI
The latest Assocarboni data for 2019 also provide a detailed picture on the trend of the global coal import.
According to Assocarbon ...
|
|
|
Showing 831 to 835 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- The University of Queensland
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
|
| |
| |
|
