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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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Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
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- International Coal Ventures Pvt Ltd - India
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- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
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- Baramulti Group, Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- PTC India Limited - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
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- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
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- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
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