India is on a coal buying spree ad the nation is scrambling to cover an expected shortfall in domestic supply. Coal majors are entertaining all levels of deals, from minority stakes in mines to becoming an operator. Many are chasing stakes in large-scale mines of 10 million to 15 million tonnes a year. Also being eyed are mid-sized thermal coal blocks in Australia.
Continue reading "India Seeks Coal"
Friday, July 10, 2009
The figures are daunting. Coal demand in the international market has been waning. International coal prices have been lingering at a low track from March to May, and statistics from China's customs shows that China's import of coal in May reached 9.43 million tonnes surging by 133.1 per cent year-on-year, which is also the highest level ever. But there are rays of hope elsewhere. Western Australia's miners have recorded their fifth consecutive month of growth, and UAE's Coal & Oil Group is planning to invest around $300 million to buy new ships and to acquire coal mines.
Continue reading "Alarm Bells Ring For Coal Imports"
Thursday, June 11, 2009
Publicly listed Lodestar Holdings Investment Corp. has recently signed a memorandum of agreement with Oriental Vision Mining Phils. Corp. for the development of the former’s 7,000-hectare coal mine in Surigao del Sur. For full story, click here
Continue reading "Lodestar will develop Surigao Coal Mine"
For upcoming coal investing trade shows, see the following links: Cambridgehouse, IIC, Chicago Resource Expo
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Wednesday, September 16, 2009