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