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Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
 China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut in an attempt to consolidate the sector expired.
A major prop for global coal prices this year quietly expired at midnight on Monday, the deadline for small, dangerous mines in China's top producing province to merge into larger operators.
But analysts warn not to expect a quick supply filip after the Aug. 31 deadline for mines in Shanxi to join forces to be allowed to reopen, as the process of consolidation and continued pressure on the sector's appalling safety record constrains output.
Shutdowns in Shanxi earlier this year were a lucky break for coal suppliers in Australia, Indonesia and Vietnam, helping turn China into a net importer just as the global financial crisis demolished demand from other countries.
Now the province, source of 25% of China's coal, is poised to let many small mines reopen.
But a recent fatal explosion at a mine in Shanxi underlines that progress on safety is far from assured, while mines may be slow to return to normal production after the enforced mergers.
"Signing a framework agreement for a merger is much easier than actually finalising the price of the deal," said Wang Ye, an analyst at CITIC Securities. "It's easy to get engaged, but marriage is a totally different matter."
Small mines contribute roughly a third of Shanxi's coal output. For coking coal, the more valuable grade used by steelmakers, small mines contribute even more, as most coking coal resources are controlled by small mines, analysts said.
As the consolidation drive got underway after a major mine blast in late February, production from Shanxi failed to show the typical sharp recovery from the Lunar New Year holiday trough.
Output for Shanxi in the first seven months of 2009 fell by 12%, or 42 million tonnes, to 318 million tonnes -- a decline almost equal to the huge rise in imports that flipped China from a net exporter to a major net buyer of coal.
The world's top producer and consumer shipped in a net nearly 50 million tonnes of coal in the seven months to July, compared with 4.7 million tonnes of net exports in all of 2008.
"The major bullish case for thermal coal from a China perspective has been the supply constraints in Shanxi," said Scotia Capital China strategist Na Liu in a note to clients.
But with the mergers now having taken place, this bullish factor for global markets could be removed.
The shutdowns hit Shanxi hard, making it the only province to see its economy shrink in the first half of this year. That could prompt local officials to take a more lenient view of restarts at small mines, which make up 80%of the province's total.
One of China's top power producers, Huadian, expects Shanxi to produce 400 million tonnes of coal in the second half of the year, about 60% more than in the first half of the year and about 17 percent up from the same months of 2008.
If that proves accurate, Shanxi would pump enough coal into the Chinese market to deflate the appetite for imports. Liu said a third of Shanxi's output would be coking coal, so the impact would not be confined to the thermal coal market.
While the pace of output in Shanxi has been picking up since its low in January, it's not clear that this can be maintained.
"The fast growth we've seen in the past few months is not going to be sustainable," said Pierre Lau, a Citigroup analyst.
In the short term, the central government may keep a lid on further expansion before the Oct. 1 anniversary of the founding of the People's Republic of China, Lau added.
"Safety will be the focus before Oct. 1. I won't be surprised to see growth in Shanxi's coal output slow down a bit," he said.
CONSOLIDATION TO TAKE TIME
The hilly province in China's north, occupying less than 2 % of the country's territory, produced a quarter of China's coal in 2008. As well as a soot-blackened landscape and mine blasts that kill dozens or more every year, the booming coal industry has created a class of newly rich Chinese, conspicuous in their Hummers and Mercedes.
But standards have yet to show much improvement. Last week, an explosion at a mine being built in Shanxi killed 14 miners just as China launched a month of nationwide safety inspections.
"The accident will definitely affect small mines and those mines currently under construction," said an industry official in Shanxi, who expects production restrictions for the next month.
And the crackdown on small mines is not over. Shanxi still wants to cut the number from 2,600 now to 1,000 by end of 2010.
To sift out the smaller, less efficient operators, it will raise the minimum mine shaft capacity to 900,000 tonnes of coal a year, up from 360,000 tonnes today, a government document showed.
In addition, many small mines are expected to go through expansion and upgrading work, which will take as long as a year or two, Lu Ping, an analyst at China Merchants Securities, said.
"At the current stage, big companies are just carving up the province's coal resources."
Big state-owned companies including coal miners and power producers are rushing to buy the small mines. Shanxi Coal Import & Export Group and Shanxi Coal Transportation and Sales Group , which do not yet produce a tonne of coal, both have the ambition of hitting 50 million tonnes a year, local media reported.
Source:MineWeb
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Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
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- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Australian Coal Association
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- PTC India Limited - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
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