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