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