We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 24 October 09
NTPC SEEKS ALTERNATE COAL SUPPLY FOR KAHALGAON
State-run NTPC is looking at alternate sources of coal to fire its Kahalgaon (Bihar) and Farakka (West Bengal) and power stations, which are facing ...
Saturday, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
|
|
|
Showing 6306 to 6310 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
|
| |
| |
|
