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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 $49,23 apiece by 12:48 in New York.
“Today’s results were well short of our expectations, though Consol’s outlook remains unchanged,” Dahlman Rose & Co analyst Daniel Scott said in a note.
“The potential for sales of the company’s top-quality metallurgical product to a firming steel industry are a major positive for the company.”
Source: Mining Weekly
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Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
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- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- White Energy Company Limited
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- PTC India Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
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