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Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
 China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut in an attempt to consolidate the sector expired.
A major prop for global coal prices this year quietly expired at midnight on Monday, the deadline for small, dangerous mines in China's top producing province to merge into larger operators.
But analysts warn not to expect a quick supply filip after the Aug. 31 deadline for mines in Shanxi to join forces to be allowed to reopen, as the process of consolidation and continued pressure on the sector's appalling safety record constrains output.
Shutdowns in Shanxi earlier this year were a lucky break for coal suppliers in Australia, Indonesia and Vietnam, helping turn China into a net importer just as the global financial crisis demolished demand from other countries.
Now the province, source of 25% of China's coal, is poised to let many small mines reopen.
But a recent fatal explosion at a mine in Shanxi underlines that progress on safety is far from assured, while mines may be slow to return to normal production after the enforced mergers.
"Signing a framework agreement for a merger is much easier than actually finalising the price of the deal," said Wang Ye, an analyst at CITIC Securities. "It's easy to get engaged, but marriage is a totally different matter."
Small mines contribute roughly a third of Shanxi's coal output. For coking coal, the more valuable grade used by steelmakers, small mines contribute even more, as most coking coal resources are controlled by small mines, analysts said.
As the consolidation drive got underway after a major mine blast in late February, production from Shanxi failed to show the typical sharp recovery from the Lunar New Year holiday trough.
Output for Shanxi in the first seven months of 2009 fell by 12%, or 42 million tonnes, to 318 million tonnes -- a decline almost equal to the huge rise in imports that flipped China from a net exporter to a major net buyer of coal.
The world's top producer and consumer shipped in a net nearly 50 million tonnes of coal in the seven months to July, compared with 4.7 million tonnes of net exports in all of 2008.
"The major bullish case for thermal coal from a China perspective has been the supply constraints in Shanxi," said Scotia Capital China strategist Na Liu in a note to clients.
But with the mergers now having taken place, this bullish factor for global markets could be removed.
The shutdowns hit Shanxi hard, making it the only province to see its economy shrink in the first half of this year. That could prompt local officials to take a more lenient view of restarts at small mines, which make up 80%of the province's total.
One of China's top power producers, Huadian, expects Shanxi to produce 400 million tonnes of coal in the second half of the year, about 60% more than in the first half of the year and about 17 percent up from the same months of 2008.
If that proves accurate, Shanxi would pump enough coal into the Chinese market to deflate the appetite for imports. Liu said a third of Shanxi's output would be coking coal, so the impact would not be confined to the thermal coal market.
While the pace of output in Shanxi has been picking up since its low in January, it's not clear that this can be maintained.
"The fast growth we've seen in the past few months is not going to be sustainable," said Pierre Lau, a Citigroup analyst.
In the short term, the central government may keep a lid on further expansion before the Oct. 1 anniversary of the founding of the People's Republic of China, Lau added.
"Safety will be the focus before Oct. 1. I won't be surprised to see growth in Shanxi's coal output slow down a bit," he said.
CONSOLIDATION TO TAKE TIME
The hilly province in China's north, occupying less than 2 % of the country's territory, produced a quarter of China's coal in 2008. As well as a soot-blackened landscape and mine blasts that kill dozens or more every year, the booming coal industry has created a class of newly rich Chinese, conspicuous in their Hummers and Mercedes.
But standards have yet to show much improvement. Last week, an explosion at a mine being built in Shanxi killed 14 miners just as China launched a month of nationwide safety inspections.
"The accident will definitely affect small mines and those mines currently under construction," said an industry official in Shanxi, who expects production restrictions for the next month.
And the crackdown on small mines is not over. Shanxi still wants to cut the number from 2,600 now to 1,000 by end of 2010.
To sift out the smaller, less efficient operators, it will raise the minimum mine shaft capacity to 900,000 tonnes of coal a year, up from 360,000 tonnes today, a government document showed.
In addition, many small mines are expected to go through expansion and upgrading work, which will take as long as a year or two, Lu Ping, an analyst at China Merchants Securities, said.
"At the current stage, big companies are just carving up the province's coal resources."
Big state-owned companies including coal miners and power producers are rushing to buy the small mines. Shanxi Coal Import & Export Group and Shanxi Coal Transportation and Sales Group , which do not yet produce a tonne of coal, both have the ambition of hitting 50 million tonnes a year, local media reported.
Source:MineWeb
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Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
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- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
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