Vilified as a dirty energy source in advanced industrialized economies, coal is booming around the world. Emerging economies are the critical driving force behind the continued growth, but barriers do exist.
PHI Group Inc. (OTCQB:PHIE.PK) announced the signing of an LOI for a 20.7 million tons of coal resources in Indonesia.
Bloomberg reported that Indonesia's coal exports were up 6.1% in November over October exports.
Bloomberg reported that shipments of thermal coal from Indonesia rose in October.
Platts reported that slow demand from Chinese importers is causing Indonesian coal prices to fall.
Falling Chinese thermal coal demand in the short-term is falling due to adequate stockpiles. However, the long-term trend is likely to be a growing reliance on foreign sources for Chinese consumers.
Reuters reported that Bumi Plc (LSE:BUMI) expects to increase coal production while trimming debt.
Bloomberg reported that the reference price for Indonesian power-station coal was raised for the first time since June.
Wall Street Journal reported that Coal India (BOM:533278) is seeking coal mining opportunities in Indonesia.
Challenger Deep Resources Corp. (CVE:CDE) announced an update to its Indonesia-based Tabang thermal coal project.
Monday, January 23, 2012