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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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Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
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