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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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Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
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- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
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