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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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Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
Wednesday, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
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- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
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