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Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA


Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. The sale was made by Xcoal, the exclusive representative of CONSOL in Asia, as a result of an Asian Marketing Initiative announced last month by CONSOL.

The sale of a Panamax vessel of approximately 82,000 short tons is destined for merchant coke plants in the Tianjin/Guafeng area of China. The vessel will be loaded at CONSOL's Baltimore terminal.

CONSOL Energy is enthusiastic about this sale. It hopes to receive a significant premium for its Bailey Mine coal when compared to its local thermal market. It believes that this sale will establish CONSOL as a premium brand in Asia. Xcoal has representative offices in Beijing, Seoul, Tokyo and Singapore.

Last week, CONSOL’s board approved a $1 billion capital budget for 2010, which included $400 million for CNX Gas Corporation. The budget focuses on the goals of improving the efficiency and productivity of its fleet of mines, while funding meaningful production growth in the gas business. To read more Zacks



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Recent News

Thursday, 07 January 10
INDONESIAS COAL OUTPUT MAY RISE TO 309 MILLION TONS IN 2014 - BLOOMBERG
Indonesia’s coal production may rise to 309 million tons by 2014 from an estimated 250 million tons this year, Bambang Setiawan, director-gene ...


Wednesday, 06 January 10
RICHARDS BAY SAYS 46% OF COAL EXPORTS WENT TO EUROPE
Richards Bay Coal Terminal, through which almost all of South Africa’s coal exports are routed, said 46 percent of the coal it exported in 200 ...


Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010
Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky ...


Wednesday, 06 January 10
INVESTMENT IN MINING TO TOP $2.5B IN 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday. Bambang Setiawan, the director general of mineral r ...


Wednesday, 06 January 10
SAS 2009 COAL EXPORTS THROUGH RBCT FLAT AT 61MT
Exports through South Africa’s Richards Bay Coal Terminal (RBCT) remained flat in 2009, as the terminal faced “critical business challen ...


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