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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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- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
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