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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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- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- PTC India Limited - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
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