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Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities have agreed 2009 thermal coal contracts with three Chinese producers at about $78.50 a tonne, down more than 45 percent from a year ago but in line with asking prices from China, two utility sources said on Wednesday.
Two separate utility sources said the five power companies have agreed to buy a total of three million tonnes of thermal coal from China's Shenhua Energy Co, China Coal Group and Datong Coal Mine Group.
The headline price of $78.50 a tonne is based on coal with a heating value of 5,800 kcal/kg (NAR) and is significantly higher than the low-$60s range which South Korean utilities were seeking as early as last month.
Apart from the agreed 3 million tonnes, South Korea's five power companies -- Kosep, Kospo, Komipo, Kowepo and Kewespo -- are also individually negotiating with Chinese producers for additional tonnage, said one of the utility sources.
"We've decided to settle with the Chinese because prices are now on an uptrend and there are also considerations that supplies may tighten in the third and fourth quarter, which could push prices higher," said the utility source who requested anonymity because he was not authorised to speak to the media.
The agreement, which was signed on Tuesday, comes amid a recent surge in Asian coal prices, which have jumped about 18 percent since May to about $74 a tonne on the globalCOAL Newcastle index, after touching a four-month high of $77.19 last week.
The long overdue settlement for contracts beginning from April may also set the tone for negotiations between Japanese utilities and Chinese miners, which have also been locked in annual contract talks since early this year.
Source: Reuters (http://www.reuters.com/article/rbssEnergyNews/idUSSYD47631820090617)
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Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
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- Directorate General of MIneral and Coal - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
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- Georgia Ports Authority, United States
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- Eastern Energy - Thailand
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- Ministry of Finance - Indonesia
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- PTC India Limited - India
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- Bangladesh Power Developement Board
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- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
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- Orica Mining Services - Indonesia
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- Madhucon Powers Ltd - India
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- Minerals Council of Australia
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- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
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- McConnell Dowell - Australia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
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- Coalindo Energy - Indonesia
- Australian Coal Association
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- Thai Mozambique Logistica
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- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
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- Kohat Cement Company Ltd. - Pakistan
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- Parliament of New Zealand
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- Wood Mackenzie - Singapore
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- Kideco Jaya Agung - Indonesia
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- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
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- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
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- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
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- Baramulti Group, Indonesia
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- Mintek Dendrill Indonesia
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- Global Coal Blending Company Limited - Australia
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- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Metalloyd Limited - United Kingdom
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- Cement Manufacturers Association - India
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- PetroVietnam Power Coal Import and Supply Company
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- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
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