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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, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
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- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
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- Sindya Power Generating Company Private Ltd
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- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
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