By Desmond McMahon—Exclusive to Coal Investing News Analysts expect coal prices to continue to rise after a strong first quarter performance with demand from China and the United States putting increased pressure on limited supply. And, The World Bank approved funding for a massive coal-burning plant in South Africa. Steel-making coal prices jumped 22 percent [...]
China's promises to clean up its act on a clean climate could well go up in smoke and add to the sooty blanket of smog that lines most cities. The country churns out 3 new coal-fired generating plants every week.
Reports reveal that state-owned steel giants SAIL and RINL have negotiated the current fiscal’s long-term coking coal prices with global suppliers at $115-125 per tonne, which is over 60 per cent lower than what the companies had paid in the last financial year. For full story, click here
The CBI has registered cases against three officials of Bharat Coking Coal and four officials of a private firm in Dhanbad for allegedly cheating the state-run coal company of Rs 65 lakh. For full story, click here
JSW Steel, the country’s leading steelmaker by capacity, has signed a coking coal contract for the year at $100 per tonne. For full story, click here
Coal India, one of the leading coal companies in the world with reserves of 287 million tonnes of coking and non-coking coal, has charted out a growth path with focus on acquisitions. For full story, click here
After a dark winter for Canadian coal producers, spring supply contract negotiations halfway around the world are providing a glimmer of light at the end of the mine shaft. As news of the pricing agreement filtered through the market last week, Canadian coal stocks have reaped the benefits.
NMDC Ltd, the largest supplier of iron ore in India, is said to have signed an agreement with West Australian mineral resources developer Stirling Resources Ltd to jointly identify and acquire coking coal and iron ore assets in Australia and New Zealand. For full story, click here
Indian steel makers are reluctant to finalize annual contracts for coking coal for 2009-10 as they are trying for a price below USD 100 per tonne against a high of USD 300 a tonne in 2008. For full story, click here
JSW Steel is negotiating a 66% lower rate for coking coal from global suppliers at USD 100 per tonne. For full story, click here
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