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Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
BloombergThe economic case against European coal is proving too much for even Glencore Plc.
 
The world’s biggest coal shipper cut the value of its Colombian business — which mostly sells to Europe — by almost $1 billion as it adjusts to the struggling market. It also plans to stop mining coal in Colombia in next 15 years.
 
The announcement is another example of how climate change and Europe’s dwindling demand for coal is starting to reshape the global energy industry. A glut of natural gas, along with a milder winter, and higher costs for carbon-emissions allowances, has tilted the economics of generating electricity away from coal and toward using more gas.
 
Investors are piling on pressure over climate change impacts and last year Glencore agreed to cap coal production. But it’s the economics that are proving decisive.
 
 “The Atlantic coal market, I don’t see a big recovery,” Chief Executive Officer Ivan Glasenberg said on Tuesday. “It’s clear the amount of coal being consumed in the Atlantic is decreasing.”
 
The collapse of European coal demand is not just a headache for Glencore. BHP Group, the biggest mining company, is looking to exit the business. One of its assets is Cerrejon, a mine in Colombia it owns with Glencore and Anglo American Plc. In the current market, there are few natural buyers.


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Wednesday, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.   The index, released by China ...


Wednesday, 11 March 20
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Tuesday, 10 March 20
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Tuesday, 10 March 20
EIA FORECASTS U.S ELECTRIC POWER SECTOR DEMAND FOR COAL WILL FALL BY 81 MMST (15%) IN 2020
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019. According to EIA's Shor ...


Tuesday, 10 March 20
CORONAVIRUS: DEMAND DOWNGRADES FOR BULK COMMODITIES - WOOD MACKENZIE
The coronavirus outbreak is a rapidly evolving news story – and a real wildcard for bulks demand. Our global experts are monitoring the impac ...


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