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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
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- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
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