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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 $49,23 apiece by 12:48 in New York.
“Today’s results were well short of our expectations, though Consol’s outlook remains unchanged,” Dahlman Rose & Co analyst Daniel Scott said in a note.
“The potential for sales of the company’s top-quality metallurgical product to a firming steel industry are a major positive for the company.”
Source: Mining Weekly
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Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
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- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
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