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Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
 As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the short end of the stick had finally taken actions to strive for their life China's Shenhua Group, China Coal and Datong Coal Mine Group have signed power coal contracts for 2009 with Japan and Korea setting power coal price at USD 78.5 per tonne.
China's coal plants have endured for long, since power enterprises have been importing coal from abroad for long, leaving domestic coal plants behind. Since this February, China's coal imports have been surging significantly. Statistic from the customs indicate coal import volume in February stayed at 4.88 million tonnes, in March 5.76 million tonnes in April it shoot up to 9.16 million tonne and then in May it finally went up to 9.43 million tonnes which is already double of the same period in 2008.
Analysts point out that this was driven by the low price of overseas resources as well as the fact that so far no agreements had ever been made with domestic coal plants. And then on the side of exports, the volume in May turned out at 1.19 million tonnes the lowest in 10 years.
The contract price between the three coal groups and Japan, Korea came out 45% lower than the same period of last year. Korea is going to import coal of 5,800 calorie per kilogram at USD 78.5 per tonne, which equals to CNY 540 per tonne including 10% export tariff. This variety of coal stays at CNY 610 per tonne now at home.
Mr Li Chaolin an expert of China's coal industry said "Since this year power enterprises have been adding pressure to coal plants by buying overseas resources; now that coal plants have also reached out, it's inevitably underscoring that they are no longer keeping silent now, but trying ways out actively."
Although both power and coal enterprises are reaching out, industry insiders believe that it's not likely to have much impact on China's power coal negotiation, for the volume imported outside takes up only a tiny bit of all leaving domestic resources as mainstream Statistics show that China produced 2.71 billion tonnes of coal in 2008, while only 45.43 million tonnes were exported accounting for a meager 2%.
Another coal expert who requested anonymity said both the two sectors have been monopolized and are involved in resource allocation in the country and that the long overdue agreement between them will finally be made under the intervention of the country.
Source: Steel Guru (http://steelguru.com/news/index/2009/06/21/OTkyNjI%3D/Chinese_miners_seal_thermal_coal_deals_with_Japan_and_Korea.html)
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Wednesday, 27 May 09
EUROPEAN COAL PRICES FOR 2010 SETTLEMENT DROP TO 11-DAY LOW - BLOOMBERG
Benchmark European coal derivatives declined to an 11-day low as oil prices slumped.
Coal for delivery to Amsterdam, Rotterdam or Antwerp with se ...
Tuesday, 26 May 09
NEW MINING PERMITS TO BE OBTAINABLE WITHIN TWO WEEKS' TIME - MAJALAHTAMBANG
The Indonesian government is currently formulating a procedure for companies willing to obtain mining permits (IUP in its Indonesian abbreviation). ...
Tuesday, 26 May 09
KADIN CALLS FOR BIGGER RECOGNITION OF MINING SECTOR - MAJALAHTAMBANG
The Indonesian Chamber of Commerce and Industry (KADIN Indonesia) had called other sectors, particularly the forestry and the land administration se ...
Tuesday, 26 May 09
TUTICORIN PORT TO INVEST RS 700CR FOR COAL HANDLING FACILITIES
Business Standard reported that, The Tuticorin Port will develop coal handling facilities for state-run Neyveli Lignite Corporation (NLC) and Coasta ...
Monday, 25 May 09
MMTC TO IMPORT 12.5 MN TN COAL FOR NTPC
India's State-run trading firm MMTC Ltd will import 12.5 million tonnes of coal this fiscal for the country’s largest power producer, NTPC. M ...
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- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- White Energy Company Limited
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- Rio Tinto Coal - Australia
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- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
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- Bangladesh Power Developement Board
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- Timah Investasi Mineral - Indoneisa
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- Parliament of New Zealand
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- Tata Chemicals Ltd - India
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- Energy Development Corp, Philippines
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- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Romanian Commodities Exchange
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- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
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- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
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- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Australian Coal Association
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- Indian Energy Exchange, India
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- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- VISA Power Limited - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
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- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
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- Cement Manufacturers Association - India
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- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
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- Mjunction Services Limited - India
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- Eastern Coal Council - USA
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- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
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- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
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- South Luzon Thermal Energy Corporation
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- IEA Clean Coal Centre - UK
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- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
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- Australian Commodity Traders Exchange
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