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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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Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
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- Lanco Infratech Ltd - India
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- Deloitte Consulting - India
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- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
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- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
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- Altura Mining Limited, Indonesia
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- Neyveli Lignite Corporation Ltd, - India
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- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
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- Minerals Council of Australia
- New Zealand Coal & Carbon
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- Australian Coal Association
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- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
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- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
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- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
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- Barasentosa Lestari - Indonesia
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- Madhucon Powers Ltd - India
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- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
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- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
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- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
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