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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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Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- Power Finance Corporation Ltd., India
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- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- The University of Queensland
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- Australian Coal Association
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- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Directorate Of Revenue Intelligence - India
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- Wood Mackenzie - Singapore
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- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
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- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
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- India Bulls Power Limited - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
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- Marubeni Corporation - India
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- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- White Energy Company Limited
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
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