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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, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
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- ICICI Bank Limited - India
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- Australian Coal Association
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- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
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- Semirara Mining and Power Corporation, Philippines
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- Larsen & Toubro Limited - India
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- Ministry of Finance - Indonesia
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- The State Trading Corporation of India Ltd
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- Planning Commission, India
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- White Energy Company Limited
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- New Zealand Coal & Carbon
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- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
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- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
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- Indonesian Coal Mining Association
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- Medco Energi Mining Internasional
- London Commodity Brokers - England
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- The University of Queensland
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- Sindya Power Generating Company Private Ltd
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- Global Business Power Corporation, Philippines
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- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
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- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
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- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
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- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
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- Antam Resourcindo - Indonesia
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- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
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- Kaltim Prima Coal - Indonesia
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- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
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- Banpu Public Company Limited - Thailand
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- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
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