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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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Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
Wednesday, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
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- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
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- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
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