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Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Point coal terminal in Australia’s Queensland state.
“The funds will be used for feasibility studies, the procurement of long-lead time items and initial project activities,” Melbourne-based BHP Billiton Ltd. said in a statement today on its Web site. Final approvals for the projects are expected in the third quarter of 2011, it said.
Deutsche Bank AG last week raised its forecast for 2010 coking coal prices by 36 percent to $175 a metric ton because of the return of “real physical demand for commodities.” BHP and Japan’s Mitsubishi Corp. own the projects together in the BHP Billiton Mitsubishi Alliance, the world’s largest exporter of coking coal used by steelmakers.
Caval Ridge will produce as much as 5.5 million metric tons a year from a mine by the same name and an additional 2.5 million tons from the Peak Downs mine, BHP said. Expanding the coal terminal will increase capacity by 25 percent to 55 million tons a year, it said.
Development of Caval Ridge was delayed by two years in July because of the global recession.
Source:Bloomberg
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Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- India Bulls Power Limited - India
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- Indonesian Coal Mining Association
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- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
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- The Treasury - Australian Government
- Orica Mining Services - Indonesia
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- Bharathi Cement Corporation - India
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- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
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- Eastern Coal Council - USA
- Independent Power Producers Association of India
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