We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
 Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved conditions in 2011, Consol Energy CEO Brett Harvey said on Thursday.
Consol – the fourth-biggest coal producer in the US – saw earnings decline year-on-year in the third quarter because of lower coal volumes, and will continue to match production to the market, he said on a conference call.
“Our shareholders need to be aware that we are not going to mine this coal unless we have a place to put it - we are going to manage our inventories, we are not going to put ourselves in a distressed position,” Harvey said.
Consol reduced annual production levels twice this year, by a total of seven million tons, to 58-million tons.
Unfortunately, lower volumes have put pressure on costs, particularly for the company's metallurgical coal, he said.
The company will focus capital spending in 2010 on efficiency projects that are already under way, but will not add any new projects in the coal business.
“And we think 2010 is a bridge year to, I think, a tightened market, and a volume-constrained market, based on the financial capabilities of our competitors, as well as the pressure from the federal government and the state governments, for a new environmental push at a much higher threshold,” Harvey said.
On the thermal coal side, US demand will likely remain soft, given the high levels of stockpiles .
However, if and when demand improves, Consol will be in a position to boost its production levels.
The company does see “movement” in the metallurgical coal market, Harvey said.
Asian steel plants are now running at about 75% of capacity, while US plants are at around 60%, he said.
“And we see some upside there.”
Consol has locked in metallurgical coal sales for 2010 at around $114/t to $115/t, and does not expect to price any steelmaking coal next year below that level.
The company produces metallurgical coal from its Buchanan mine, in Virginia, which it restarted in July.
Longwall production at the mine was idled in March, in response to sharply lower demand from steel producers.
Harvey said that Consol has considered making acquisitions, but that it is still “a bit early” to move on its potential targets.
“There is still some pain in the coal business to come for people who are in poor financial positions,” he commented.
Consol shares slid 3,6% on Thursday, to $49,23 apiece by 12:48 in New York.
“Today’s results were well short of our expectations, though Consol’s outlook remains unchanged,” Dahlman Rose & Co analyst Daniel Scott said in a note.
“The potential for sales of the company’s top-quality metallurgical product to a firming steel industry are a major positive for the company.”
Source: Mining Weekly
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 24 October 09
NTPC SEEKS ALTERNATE COAL SUPPLY FOR KAHALGAON
State-run NTPC is looking at alternate sources of coal to fire its Kahalgaon (Bihar) and Farakka (West Bengal) and power stations, which are facing ...
Saturday, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
|
|
|
Showing 6306 to 6310 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
|
| |
| |
|
