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Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS


Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines will take several months to get fully operational again following the worst floods in 50 years.

With an area just under half the size of the Mediterranean Sea submerged, the extent of the floods is staggering and over 40 mine operators have been effected, brining the state’s coal industry to a virtual standstill.

Queensland exports mainly coking coal used in the manufacturing of steel, but also produces thermal coal for power stations. Industry observers are now worried the price of coal may climb, pushing up the price of associated metals and services such as steel and electricity.

However, Robertson tried to play down these fears Friday, telling the BBC that although spot prices would likely jump, the long term stability of the coal price was sound.

Sites operated by Rio Tinto, Xstrata and Vale are among those effected and the closure of such mines will likely have global consequences as Queensland accounts for 8% of all global thermal coal exports.
Source: Albuquerque Express



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Sunday, 23 January 11
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Saturday, 22 January 11
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Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...


Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...


Thursday, 20 January 11
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Handy Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...


Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia  reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...


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