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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, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
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