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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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Wednesday, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- Wilmar Investment Holdings
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
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