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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 $650-million revolver.
Crutchfield indicated on Thursday the firm will continue to look at potential merger and acquisition opportunities.
“With our liquidity and scale, Alpha has a number of strategic options.
“Our financial position enables us to entertain additional M&A opportunities which can either be small bolt-on acquisitions, that complement our existing business, or transformational deals, like the merger with Foundation,” he said.
The firm has created a new position of chief strategy officer, who will have the responsibility of evaluating both acquisitive and organic opportunities.
Management is committed to the continued growth of the company, Crutchfield said, but added that it would not be “growth for growth's sake”.
“Future growth projects – be they through acquisition or organic development – will be undertaken prudently, with careful thought to strategic fit, valuation and manageability.”
“But one thing's for sure: we will continue to grow beyond the current merger,” he asserted.
Source: Mining Weekly
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Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
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- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Planning Commission, India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
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