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.
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
China Mining declared that China has made progresses in building large coal production bases with 13 leading coal production bases approved by the state making up 83% of the national coal output.
For full story, click here
Mining group Xstrata Plc. released first-quarter output and price data on Tuesday.
For full story, click here
International Coal Group declared that it is willing to cut production more as it deals with dipping demand and prices.
For full story, click here
Red Hill Energy (CVE:RH) announced today that their 100% owned Ulaan Ovoo coal project in Mongolia received a positive pre-feasibilty study. The study shows at a coal price of $76US/tonne, an after tax and royalty NPV of $US250 million with a discount rate of 10%.
Cline Mining Corporation reported that the refurbishment and development to commercial production of its New Elk metallurgical coal mine located in southern Colorado, U.S.A. is proceeding well and Phase I is approaching completion.
For full story, click here
NTPC announced that it would commence coal production from its mines in Jharkhand in the second half of this fiscal.
Mr R S Sharma , CMD., NTPC stated:
We will start coal production from PB (PakhriBarwadih) mines in the second half of current fiscal.
For full story, click here
Reports reveal that the Mozambique coal block allotted recently to Coal India Ltd. is likely to go into production over the next two-to-three years. With initial estimated reserves of 1 billion tonnes, coal will be imported to cater to the domestic demand from customers in western India.
For full story, click here
India’s first pubic-private partnership coal project named Gopal Prasad Open Cast Project here, will commence its production from next year.
For full story, click here
Monday, September 21, 2009
3 Commentz