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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, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
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- Therma Luzon, Inc, Philippines
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- Global Business Power Corporation, Philippines
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- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
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- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
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- Borneo Indobara - Indonesia
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- Tata Chemicals Ltd - India
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- Orica Mining Services - Indonesia
- Bhatia International Limited - India
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- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- MS Steel International - UAE
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
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- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
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- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
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- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Planning Commission, India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
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