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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, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
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- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- White Energy Company Limited
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
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