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Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS


Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according to Gerald McCloskey, a founder of the McCloskey Group Ltd. research company.

China imported 11.8 million metric tons of coking coal last month, down 15 percent from July, customs office data yesterday showed. Imports were a record 16.1 million tons in June, according to McCloskey.

“China is unlikely to become self-sufficient on coking coal” in the second half of this year or next year, McCloskey said in an interview in St. Petersburg today. “We see a certain slowdown, but China will continue to import sufficient amounts of coking coal.”

The spot price for Australian coal shipped to China may rise to $200 a ton in the next few months from $175 a ton this month, McCloskey said, citing a survey of Australian producers.

“It provides good opportunities for Russian coking coal producers who have one of the highest costs in the industry,” McCloskey said.
Source: Bloomberg



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Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...


Thursday, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...


Thursday, 15 October 09
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Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...


Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
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Wednesday, 14 October 09
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Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...


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