Hunnu Coal (ASX: HUN) has announced its acquisition of 90% interest in the Tsant Uul Coal Project. The company aims to become a major producer of coal coming from the South Gobi coal province. The press release is quoted saying: “Based on this drilling the Company has estimated an Exploration Target* of 50Mt and 100Mt [...]
Coal prices have risen 30 per cent from their low in March. However, for the second half of 2009, there are still risks of tight coal supply. In China, many domestic producers have arbitraged the low offshore prices with higher onshore prices, which has made demand look stronger than it was. So, correction is expected in the new two months. However, strong demand for thermal coal in China and India is expected to help Asia avoid the first fall in imports for a decade this year, and push import growth even higher in 2010.
The long-term fuel supply pact between the country’s biggest coal producer, Coal India, and power utilities led by navratna firm NTPC is set to miss the April-30 deadline on account of procedural delays. Coal India Chairman Partha S Bhattacharyya stated: All the issues between both the parties have been worked out and the pact is [...]
Yanzhou Coal Mining, a Chinese coal producer declared that its Q1 net profit has been down by 48.5%. For full story, click here
Coal producer Alliance Resource Partners has been credited higher prices Monday for a 68 percent rise in first-quarter profits, but declared that it’s cutting production, revenue and earnings guidance for the full year. Chief executive Jon Lloyd reported: This really does underpin the fact that UK generators see significant value in locally produced coal. For [...]
National Coal Corp., a Central and Southern Appalachian coal producer announced that for the year ended December 31, 2008, it achieved total revenues of $132.6 million based primarily on the sale of 2.0 million tons of coal. Daniel A. Roling, President and CEO at National Coal Corp. stated: Like the rest of the country, the [...]
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