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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 do so, Alpha Natural Resources CEO Kevin Crutchfield said on Thursday.
Further, while inventories of US thermal coal remain high by historical standards, this situation could turn around over the next 12 months, to the point where demand exceeds supply – possibly in late 2010 or early 2011, he told analysts and investors on a conference call.
Alpha Natural, now the third-biggest coal producer in the US after it bought rival Foundation Coal last month, produces steam coal from mines in the Powder River Basin (PRB) and north and central Appalachia.
It is also the biggest producer of high-quality metallurgical coal from its Appalachian mines.
Based on committed and priced coal shipments, the company expects to receive an average of $10,50/t for its PRB coal this year, but that average prices will improve to $11,17 in 2010.
Eastern steam coal prices are forecast at $63,84/t in 2009, but are seen increasing to $69,51/t next year, while Alpha Natural estimates it will realise an average of $114,45/t for its metallurgical coal in 2010, up from a forecast $100,87/t for this year.
Total shipments in 2009 are expected to be between 83-million and 87,5-million tons, and shipments are forecast at $80-million to $90-million next year.
This year's guidance includes 50-million to 51,5-million tons of PRB coal, 26-million to 28-million of eastern steam coal and 7-million to 8-million tons of metallurgical coal.
The firm is already “very well” contracted for 2010, with more than 85% of expected shipments committed for delivery, Crutchfield reported.
Although the economic downturn continues to weigh on coal markets in the US and around the world, the domestic metallurgical coal market, is starting to show signs of recovery, and will likely be the first segment of the coal industry to return to relative health, he said.
Further, the global fundamentals for metallurgical coal are also improving, with Chinese demand expected to remain strong, he said.
China, which was a net exporter of coal just three years ago, is on pace to import about 100-million tons of coal this year, 30-million of which is expected to be metallurgical coal, Crutchfield said.
“This trend had been abating somewhat, but it is our belief the recent mine disaster is likely to sustain import requirements, given the closure of 157 small mines in the region.”
There are also “tangible” signs of increased metallurgical coal demand and requirements from Europe, which appears to be poised for a turnaround, he said.
As for steam coal, however, inventories remain above normal across the US, and a mild summer combined with low natural gas prices have added to the demand-weakening effects of the economic downturn.
However, with the outlook in the US beginning to improve, Crutchfield said the decrease in electricity demand can be expected to moderate and give way to at least modest demand growth in early 2010.
Much of the elimination of high cost production that occurred during the down turn will be difficult to bring back, he said, which means that a stronger market could result in demand for steam coal outstripping supply, once inventories return to normal levels.
This could develop in late 2010 or early 2011, he predicted.
MORE GROWTH TO COME
After closing the Foundation merger, Alpha Natural had total debt of $901-million and cash of cash equivalents of $497-million, plus a $650-million revolver.
Crutchfield indicated on Thursday the firm will continue to look at potential merger and acquisition opportunities.
“With our liquidity and scale, Alpha has a number of strategic options.
“Our financial position enables us to entertain additional M&A opportunities which can either be small bolt-on acquisitions, that complement our existing business, or transformational deals, like the merger with Foundation,” he said.
The firm has created a new position of chief strategy officer, who will have the responsibility of evaluating both acquisitive and organic opportunities.
Management is committed to the continued growth of the company, Crutchfield said, but added that it would not be “growth for growth's sake”.
“Future growth projects – be they through acquisition or organic development – will be undertaken prudently, with careful thought to strategic fit, valuation and manageability.”
“But one thing's for sure: we will continue to grow beyond the current merger,” he asserted.
Source: Mining Weekly
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Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
Wednesday, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
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- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Planning Commission, India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- PTC India Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
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