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Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
 * CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not cause long-term problems
Italy's Coeclerici Coal and Fuels, one of Russia's eight largest steam coal exporters, wants to acquire a second mine in Siberia's Kuzbass region and raise exports to Asia, the company's chief executive told Reuters.
"We hope to increase tonnage. That's why we are looking for a high vols mine in Kuzbass," Giovanni Marchelli said in an emailed response to questions, referring to the amount of volatile matter found in a mine's reserves.
Coeclerici, the second-largest coal exporter at Murmansk Commercial Seaport behind Russia's SUEK, acquired its first Russian steam coal mine in April 2008.
Production at the Korchakol mine is expected to exceed 550,000 tonnes this year, up from 450,000 tonnes in 2008. Next year, output is expected to reach about 750,000 tonnes, below a target of 900,000 tonnes cited by Marchelli in January.
Historically, the company has shipped Russian coal to European markets, but Marchelli said some coal was now heading to Asia.
Major producers have increased eastbound shipments this year to take advantage of strong Asian prices, stretching Russia's limited rail capacity.
"In the last few months, we did a few cargoes and for sure it is our intention to grow in that area," Marchelli said.
SOLVING PORT PROBLEMS
Coeclerici plans to export 3 million tonnes of coal via Murmansk this year and to increase this amount in 2010.
The Murmansk port, which remains ice-free all year, is experiencing some seasonal delays associated with unloading frozen coal, though these pale in comparison with the major congestion seen in the Far East.
"There is always something unexpected. Delays could be caused by a lack of wagons, or vice-versa, by having too many wagons to be discharged," Marchelli said.
"In any case, the port always solves all problems in a very short time."
Murmansk port director Viktor Morozov said in October that his company plans to build a new terminal to double coal exports by 2015, and Marchelli said Coeclerici would take advantage of the expansion to increase exports.
He added that per-tonne prices for API2 Russian coal were now in the mid $70s, down about $10 per tonne from January, while rail freight tariffs were up about $4-$5 per tonne.
He expected coal prices to remain at this level in 2010.
The executive declined to say whether Coeclerici's Russian operations were profitable this year.
"Like everybody, we are suffering because of the market," he said. "We are not considering Russia year-by-year but on a long-term basis only ... Of course we cannot pretend to always make money."
Source: Reuters / Forexyard
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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
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 ...
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 ...
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