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Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
 Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange that it was buying into two Shanxi coal companies through one of its wholly-owned subsidiaries.
The move indicates the company's expansion into upstream business to secure power coal supply and reduce operational risks, said a China Securities Journal report.
Huadian Power International, the listed arm of one of China's five leading power producers, China Huadian Corp, bought a 70 percent stake in each of the two coal companies for 397.6 million yuan ($58.19 million) and 362.6 million yuan respectively.
One of the coal miners will be put into production by the end of this year and the other by the first half of next year, according to the company statement.
With coal reserves of about 290 million tons, the coal companies will provide steady power coal to Huadian Power International's coal-fired power plants, especially for those in Shandong province, the statement noted.
The purchase shows Huadian Power International's determination to achieve coal self-sufficiency and will play a positive role in improving its future performance, the report said, citing an electricity industry researcher.
China, the second largest power consumer in the world, uses coal to generate about 80 percent of its electricity; therefore thermal coal prices are fairly sensitive to the country's power generators.
Chinese coal-fired power plants incurred losses of about 70 billion yuan in 2008 and the country's five leading power-generating companies lost about 30 billion yuan due to soaring power coal costs and the State's price cap on electricity, said Zhai Ruoyu, general manager of China Datang Corp in March this year.
Spot thermal coal prices in China reached a record high of over 1,000 yuan a ton last July. Now, it is hovering around 570 yuan per ton.
On the other hand, the unsuccessful annual coal price negotiation in late December pushed thermal power generators to seek more reliable coal supply sources.
Each year, China's coal producers and power companies sit down to negotiate the following year's contract coal prices, which have long been a bone of contention.
Negotiations for 2009 coal prices resulted in a deadlock, as domestic coal miners aimed to charge power producers 10 percent more for fuel under the 2009 annual contracts, while power producers wanted a price cut of as much as 10 percent.
In order to be less vulnerable to domestic coal prices and less dependent on domestic coal miners, Chinese power enterprises stepped into the coal-mining industry in succession and bought more coal from abroad.
China Datang Corp, also one of the country's five biggest power generators, has been given the green light to expand into the coal- mining business, authorities said in March.
The Customs statistics showed China's coal import reached 9.43 million tons in May, more than double that in the same period of last year. China's coal import and export amounted to 32.20 million and 10.53 million tons respectively in the January–May period, or a net import of some 22 million tons.
China's five biggest power generators include China Huaneng Group, China Datang Corp, China Guodian Corp, China Huadian Corp and China Power Investment Corp.
Source:china.org.cn
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Tuesday, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
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- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
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- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
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- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
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- Marubeni Corporation - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
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- Cement Manufacturers Association - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- PTC India Limited - India
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- Parliament of New Zealand
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- Karbindo Abesyapradhi - Indoneisa
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- Coal and Oil Company - UAE
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
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- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
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- Electricity Authority, New Zealand
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- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Metalloyd Limited - United Kingdom
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- Merrill Lynch Commodities Europe
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- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
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- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
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- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
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- Bukit Baiduri Energy - Indonesia
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- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
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- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
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- Ministry of Mines - Canada
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- Alfred C Toepfer International GmbH - Germany
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- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- The University of Queensland
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- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
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- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
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- ICICI Bank Limited - India
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