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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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Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
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- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Planning Commission, India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
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