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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
 Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Terminal appears to have reached resolution, with an agreement to be ratified shortly, participants said on Thursday.
At the heart of the dispute was the allocation of limited coal deliveries for the Phase 5 expansion, which lifts RBCT’s export capacity to 91 million tonnes a year. However, the rail utility, Transnet Freight Rail, has capacity for just 65 million tonnes and any allocation to newcomers would have to come out of existing members tonnages.
Existing members of RBCT had to give up a portion of their rail allocation to ensure the producers earmarked to use Phase 5 could get coal to the port, a process which proved difficult to conclude. It is one that had to be reached though to ensure black economic empowerment miners had access to relatively lucrative export markets.
“The settlement is a compromise on the part of both parties and like all good compromises neither party is particularly happy,” said Trevor McGiddy, CEO of SDCT, which has spent R480m towards the R1.2bn Phase 5 expansion that adds 15 million tonnes to annual RBCT capacity.
At full export capacity of 91 million tonnes, the SDCT group, which comprises Exxaro Resources, E/Enterprises and Anker Coal, would have an allocation of six million tonnes out of the 15 million tonnes, which would enable them to recoup their investment in the expansion.
“Of course TFR is not at that 91 million tonnes level so our allocation in the short term until they get there is dependent on their performance,” McGiddy said.
If TFR manages to rail 65 million tonnes, the allocation to the participants in Phase 5 would be around four million tonnes, of which SDCT would have 1.75 million tonnes. “We’ve all had to bite the bullet on this one,” McGiddy said. “The financial model looks significantly different from when we first started the project.”
TFR railed 61 million tonnes in 2009 and expectations it will lift this to 65 million tonnes this year.
Work has progressed on TFR raising haulage capacity to 85 million tonnes as the first step towards reaching 91 million tonnes. “There is a strong cooperation between the coal industry and TFR,” he said.
The industry hope is that TFR will reach that 85 million tonnes level within four years.
Raymond Chirwa, CEO of RBCT, said in a recent presentation that of the 91 million tonnes, BEE companies would have a dedicated allocation of nearly 29 million tonnes or 32%.
The Phase 5 expansion, which is about a year behind schedule, will be commissioned on 1 May 2010.
Chirwa told Miningmx all the issues that had delayed the commissioning, including computer control systems, had been resolved and the expansion was good to go.
Source: Miningmx
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Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
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- Kumho Petrochemical, South Korea
- White Energy Company Limited
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- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
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- Miang Besar Coal Terminal - Indonesia
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- Chamber of Mines of South Africa
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- Indian Energy Exchange, India
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- Planning Commission, India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
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- AsiaOL BioFuels Corp., Philippines
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- Mintek Dendrill Indonesia
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- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
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- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
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- Price Waterhouse Coopers - Russia
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- Energy Link Ltd, New Zealand
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- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
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- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
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- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
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- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
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- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
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