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Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA


Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term coal production of 20 million tons a year from the country.

The company, through its SouthGobi Energy Resources Ltd. unit, wants to supply 1 percent of China’s coal supply within 10 years, Chairman Robert Friedland said today in an interview in Beijing. China is the world’s biggest coal consumer.

Mongolia may become the “Saudi Arabia of coal,” Friedland said earlier at the China Eurasia Investment Forum.

SouthGobi’s Ovoot Tolgoi mine, located 45 kilometers (28 miles) north of the border with China, has 114.1 million metric tons of coal reserves, according to an October presentation on the company’s Web site. It’s targeting sales of almost 15 million tons by 2015.

Third-quarter coal sales from Ovoot Tolgoi were forecast to rise 17 percent to 450,000 tons, according to the presentation.

Ivanhoe Mines, based in Vancouver, owns 80 percent of SouthGobi.
Source: Bloomberg



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Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall * Asia 2010 thermal coal imports expected to rise 6.3 pct * China to become net im ...


Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments * Panama Canal will allow smaller coal Capesize vessels * Australia, Indonesia to remain bi ...


Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle. Australian ...


Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...


Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...


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