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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, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
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- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
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