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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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Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
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- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- White Energy Company Limited
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Parliament of New Zealand
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
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