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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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Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
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