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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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Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
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- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
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- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
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- Coalindo Energy - Indonesia
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- Energy Link Ltd, New Zealand
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- Medco Energi Mining Internasional
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- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Baramulti Group, Indonesia
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- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
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- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
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- Indian Oil Corporation Limited
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- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
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- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- The University of Queensland
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
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- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
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- Parliament of New Zealand
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
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