The hunt for coal assets has never been so intense. India has 256 billion tonnes of coal reserves, of which around 455 mt per annum is mined. The country imports around 40 mt of coal. Demand is expected to reach around two billion tonnes a year by 2031-32, around five times the current rate of extraction. US has also put clean coal projects to the test with $27.6 million.
Read the full article: "Hunt For Coal Gets Intense"
Thursday, August 20, 2009
State-run power producer NTPC today declared that it has appointed Macquarie as consultant for acquiring coal mines in Indonesia. NTPC Chairman and Managing Director R S Sharma stated: The consultants to do the due diligence for acquiring coal mines in Indonesia will be Australian firm Macquarie. For full story, click here
Read the full article: "NTPC has appointed Macquarie as Consultant..."
Thursday, August 20, 2009
Essar Exploration & Production India Ltd has planned to spend some $350 million in the next three to four years to fund drilling of 500 wells in a coal-bed methane block in eastern India. For full story, click here
Read the full article: "Essar will spend $350 mln on Coal Bed Methane"
Thursday, August 20, 2009
There is surging demand in China, steel mills have restarted and Australian firms are struggling to fill orders for a metallurgical coal price rise to $160 a metric tonne from less than $100 a few months ago. People are also looking for freight from the US to China. Morgan Stanley analysts mention that there is spot price “momentum” toward $175 a tonne.
Read the full article: "Continued Tightness In Coal Market"
Wednesday, August 19, 2009
Commenting on the company’s initial public offer plans, Partha S Bhattacharyya, Chairman, Coal India, says, “We see a one-year timeframe for the IPO. It will primarily be from disinvestment of government stake.” For full story, click here
Read the full article: "Coal India will Divest Govt. Stake Via IPO..."
Wednesday, August 19, 2009
Coal supply to National Thermal Power Corporation Limited, Kaniha was halted for about eight hours today following stoppage of mining activities at Lingaraj mine in Talcher due to agitation by Talcher Suraksha Manch. For full story, click here
Read the full article: "Coal Supply to NTPC disrupted"
Wednesday, August 19, 2009
India’s MMTC Ltd. will soon re-issue a tender to import 12.5 million tonnes of thermal coal with new rules aimed at enhancing competition. For full story, click here
Read the full article: "India's MMTC will re-issue Coal Tender..."
Friday, August 14, 2009
Puda Coal Inc a supplier of China’s high grade metallurgical coking coal used to make coke for the purposes of steel manufacturing announced its financial results for the quarter ended June 30th 2009. Mr Liping Zhu, president & CEO of Puda Coal, stated: We experienced lower demand during the second quarter of 2009, as the [...]
Read the full article: "Puda Coal declared Second Quarter 2009..."
Friday, August 14, 2009
Western Canadian Coal Corp declared its operating results for the three month period ended June 30th 2009. Despite the backdrop of the global economic recession where demand for metallurgical coal has fallen, the Company generated over USD 17 million of cash from operations during the first fiscal quarter 2010 through improved productivity and lower cash [...]
Read the full article: "Western Canadian Coal Declared Q1 of 2010..."
Friday, August 14, 2009
International Coal Ventures in talks to acquire stake in a US coal producing major, reports CNBC-TV18, quoting sources. This stake purchase would help the organization in accessing mining concessions in the US. For full story, click here
Read the full article: "International Coal Ventures will talk to..."
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Wednesday, August 26, 2009