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Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
 Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved conditions in 2011, Consol Energy CEO Brett Harvey said on Thursday.
Consol – the fourth-biggest coal producer in the US – saw earnings decline year-on-year in the third quarter because of lower coal volumes, and will continue to match production to the market, he said on a conference call.
“Our shareholders need to be aware that we are not going to mine this coal unless we have a place to put it - we are going to manage our inventories, we are not going to put ourselves in a distressed position,” Harvey said.
Consol reduced annual production levels twice this year, by a total of seven million tons, to 58-million tons.
Unfortunately, lower volumes have put pressure on costs, particularly for the company's metallurgical coal, he said.
The company will focus capital spending in 2010 on efficiency projects that are already under way, but will not add any new projects in the coal business.
“And we think 2010 is a bridge year to, I think, a tightened market, and a volume-constrained market, based on the financial capabilities of our competitors, as well as the pressure from the federal government and the state governments, for a new environmental push at a much higher threshold,” Harvey said.
On the thermal coal side, US demand will likely remain soft, given the high levels of stockpiles .
However, if and when demand improves, Consol will be in a position to boost its production levels.
The company does see “movement” in the metallurgical coal market, Harvey said.
Asian steel plants are now running at about 75% of capacity, while US plants are at around 60%, he said.
“And we see some upside there.”
Consol has locked in metallurgical coal sales for 2010 at around $114/t to $115/t, and does not expect to price any steelmaking coal next year below that level.
The company produces metallurgical coal from its Buchanan mine, in Virginia, which it restarted in July.
Longwall production at the mine was idled in March, in response to sharply lower demand from steel producers.
Harvey said that Consol has considered making acquisitions, but that it is still “a bit early” to move on its potential targets.
“There is still some pain in the coal business to come for people who are in poor financial positions,” he commented.
Consol shares slid 3,6% on Thursday, to $49,23 apiece by 12:48 in New York.
“Today’s results were well short of our expectations, though Consol’s outlook remains unchanged,” Dahlman Rose & Co analyst Daniel Scott said in a note.
“The potential for sales of the company’s top-quality metallurgical product to a firming steel industry are a major positive for the company.”
Source: Mining Weekly
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Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
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- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- The University of Queensland
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
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