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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
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
Thursday, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
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- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Planning Commission, India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
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