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Friday, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
 Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per tonne in 2010 from around $65 per tonne this year due to rising global demand.
Exxaro's executive general manager for business growth, Ernst Venter, said coal demand had started to rise on the world market, with India becoming a major market, particularly for steam coal.
"The recession is over and demand is now rising and as a result prices will also rise," Venter told Reuters.
Venter separately told journalists that 95 percent of Exxaro's coal was still going to Europe and that the company's plans to export up to 7.5 million tonnes in 2009 would be hampered by logistical problems and a lack of bigger port capacity at the Richards Bay Coal Terminal (RBCT).
"Europe is still a good market in terms of our coal, at least we could look at the Indian market as well. We have plans for the future and especially the Indian market," Venter said.
"We could have exported this year about 7.2-7.5 million tonnes but we will get to about 5 million."
RBCT had said it would expand its capacity to 91 million tonnes by October, but logistics group Transnet has said it signed contracts with coal producers to rail only up to 70 million tonnes of coal to the port this year.
Exxaro has said it would consider using private haulers if Transnet failed to bring all its coal to the port.
Venter said the RBCT could export up to 67 million tonnes of coal this year and raise exports to about 74 million tonnes in 2010.
Source: Reuters
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Saturday, 20 June 09
MINING LICENSE PROCEDURES `PROPER' - (UPDATE 3)
All 13 coal mining firms operating in Sawahlunto, West Sumatra, complied with procedures in obtaining their licenses, authorities say, as a recent m ...
Saturday, 20 June 09
TECK SEES 2009 COAL SALES AT UPPER-END OF FORECAST
* Sees 2009 coal sales at upper-end it of prior forecast
* Says increased Chinese demand, driving brighter outlook
Teck Resources Ltd said on Fr ...
Saturday, 20 June 09
COAL OUTLOOK DARKENS AS PRODUCERS LOOK FOR PRICING FLEXIBILITY
Russia’s coal output has dropped 17% in the first quarter of the year, with slowing demand and rising tariffs adding gloom to the outlook for ...
Saturday, 20 June 09
AUSTRALIA'S NEWCASTLE THERMAL COAL PRICES FALL 7.7% TO $70.81
Power station coal prices at Australia’s Newcastle port, a benchmark for Asia, fell 7.7 percent, declining for the first time since the week e ...
Saturday, 20 June 09
CHINA'S COAL IMPORTS UP AND EXPORTS DOWN
China’s coal import hit a new monthly high in May, while coal export slumped to a 11-year low, China Securities Journal reported today.
The ...
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