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Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
 The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some coking coal mines and reduce its stake in oil and gas.
Repositioning the company for a lower-carbon future, BHP chief executive Mike Henry on Tuesday confirmed it was examining options to divest from its Mt Arthur mine in NSW and the Cerrejon project in Colombia, both of which mine thermal coal – the kind used in power stations. Mr. Henry surprised investors by adding that BHP also intended to exit the BHP-Mitsui Coal joint venture, which mines coking coal – used in steelmaking – in Queensland, and would also seek to find a buyer for its 50 per cent holding in the Gippsland Basin oil and gas fields off Victoria’s coast.
The announcements were made as BHP, the world’s biggest miner, revealed an underlying profit of $US9.1 billion ($12.6 billion) for the financial year on the back of sky-high prices for iron ore. But the profit fell short of analysts’ expectations of $US9.4 billion.
Thermal coal is the world’s most carbon-intensive energy source and the focus of rising investor pressure amid concerns surrounding its contribution to global warming. Rio Tinto, the nation’s second-largest miner, has already removed all exposure to thermal coal.
Mr Henry said BHP would seek to exit the thermal and coking coal assets through either a demerger or a trade sale, while retaining its holdings in higher-quality coking coal mines. BHP would seek to grow its exposure to “future-facing” commodities, primarily copper and nickel – ingredients Mr Henry said would be increasingly required in the manufacture of green-energy technologies.
BHP’s top earner, iron ore, accounted for 66 per cent of its full-year earnings. The price of the commodity has defied predictions it is overdue for a fall and has recently surged above $US120 a tonne amid robust demand from Chinese steel mills and softer output from other exporters such as Brazil’s Vale, which has faced COVID-19 disruptions. Elevated prices of iron ore, Australia’s most valuable export, have also provided a boost to the federal budget.
-The Sydney Morning Herald | Nick Toscano -
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Wednesday, 02 September 20
MARKET INSIGHT - INTERMODAL
The imminent global shift towards eco-friendliness has caused divide among the shipping community because there is no outlined, clear-cut way via w ...
Wednesday, 02 September 20
INDONESIA COAL PRICE REFERENCE DIVES FURTHER IN SEPTEMBER DUE TO SUBDUED DEMAND & GLOBAL OVERSUPPLY
Subdued demand & global oversupply pushed down this month's HBA
COALspot.com: The Indonesia Coal Price Reference ...
Tuesday, 01 September 20
WHY INDIA CAN'T MATCH THE GULF REGION'S RECORD-LOW SOLAR TARIFFS - IEEFA
5-10% annual decline in tariffs estimated for the next decade
A number of countries in the Gulf region have set record-low prices for solar in ...
Tuesday, 01 September 20
COVID-19 PUSHES US LNG INTO A TIGHT SPOT - DREWRY
The pandemic-led weak projections for economic growth will derail US LNG exports in full-year 2020 with the country also losing ground in the long ...
Monday, 31 August 20
DEFECTIVE PASSAGE PLANNING: UNSEAWORTHINESS OR A NAVIGATIONAL DECISION? THE CMA CGM LIBRA QUESTION SAILS ON TO THE UK SUPREME COURT - GARD
KNOWLEDGE TO ELEVATE
The UK Supreme Court has granted leave to appeal the recent decision in Alize 1954 v Allianz Elementar Versicherungs AG ( ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Electricity Generating Authority of Thailand
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- Mercator Lines Limited - India
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- Coal and Oil Company - UAE
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- GMR Energy Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
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- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
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- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
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- Minerals Council of Australia
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- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
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- Commonwealth Bank - Australia
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- Chamber of Mines of South Africa
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- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Central Electricity Authority - India
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- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
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- Baramulti Group, Indonesia
- Indika Energy - Indonesia
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- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- White Energy Company Limited
- Indian Oil Corporation Limited
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- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
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- Australian Commodity Traders Exchange
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