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Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Mining Congress organised by the Mining, Geological and Metallurgical Institute of India, Jaiswal cited several instances of Asian countries who are the market leaders.
China is the world’s largest coal producer, while India is third.
“Indonesia is also fast emerging as a major coal exporting country. Coal is still the most affordable and locally available fuel and it is the fastest growing mineral for consumption. What we need is greater regional co-operation and collaboration in mineral development, particularly in the coal sector,” Jaiswal said.
“This collaboration can come in the areas of joint exploration or the development of mines,” the minister said.
He said India needed to have access to new coal reserves for its industries.
China’s consul-general Mao Siwei said the governments of both the countries had planned collaborations in coal. “China produces 40 per cent of the total coal production in the world. And China has now become the largest trading partner of India.”
Meanwhile, Coal India has started the process of forging strategic partnerships with producers overseas to bring coal at a price lower than the import price. “Coal companies abroad are witnessing an annual growth rate of 3 per cent. The growth rate is 1 per cent for US companies. India offers a better growth prospect for them,” said Partha S. Bhattacharyya, chairman of Coal India Ltd.
Source: Telegraph India
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Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
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. T ...
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