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Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal producer, Shanxi Province, plans to establish the nation's first coal and coke futures exchange.
Wang Hua, director at the Shanxi provincial capital market development office, told China Daily, "We have submitted a feasibility study to the authorities with the aim of establishing the market in 2012."
"China is the world's largest coal-producing country, which is in need of a coal-related futures exchange to get more rights on international pricing. If it's difficult to set up the bourse in Shanxi, we expect to co-operate with other commodity bourses to launch the futures products," Wang said.
The Chairman of the China Securities Regulatory Council (CSRC) Shang Fulin said this week that the commission would continue to encourage more futures products in China to help domestic companies hedge against financial risks.
While Shanxi is favored for its proximity to coal mining companies and its convenient transportation and logistics network, some analysts suggest a coal-producing province may be more disposed to protect local producers, which could impact a fair pricing mechanism. It has been suggested the coal futures bourse be located in a mature financial center.
Source:http://www.mineweb.com/mineweb/view/mineweb/en/page38?oid=84340&sn=Detail
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Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
Tuesday, 16 June 09
INDIAN MINING WORKER ARRESTED IN BENGKULU
Forestry officials in Bengkulu Province, Sumatra, arrested one Indian national and two Indonesians on Sunday for unauthorized exploration in the ele ...
Tuesday, 16 June 09
INDIAN GOVERNMENT MAY ALLOW PRIVATE COMPANIES TO MINE COAL
The government is “strongly considering” to allow commercial coal mining by private companies in a bid to bridge the demand-supply gap, ...
Monday, 15 June 09
SAFRICA'S COAL TERMINAL EXPANSION DELAYED TO Q4
South Africa's Richards Bay Coal Terminal (RBCT) said on Monday the completion of a project to expand the export facility had been delayed to the f ...
Monday, 15 June 09
SHENHUA DENIES GIVING GROUND ON EXPORT COAL PRICE - REUTERS
China Shenhua Energy Co, the country's top coal producer, expects Japanese and South Korean clients to pay at least as much as Chinese customers fo ...
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