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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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- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
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