Saturday, 05 February 11
Minister of Energy, Darwin Minister Saleh said, that, he had signed a degree for transportation and sale of coal, which was the hot topic in Indonesian coal industry since early last month, as quoted by Investor Daily.
“I already signed the decree” minister said yesterday, Investor daily reported.
According to the minister, “ he was very cautioned to take a decision as any decision should not lead to any problem later date.
"We were not slow, but there should be a balance between speed and caution” he said. The extra caution was necessary because this is the delegation of authority from the minister to the director general. Moreover, coal is a strategic commodity, so the decision which ever we take should not be disturbed the national interest” minister further said, according to media.
He further explained, "the part of authority to handle coal sector has already transferred to local government. Therefore, central government must take the necessary safeguard to secure national interest", as quoted by Investor Daily.
Previously, Indonesian Coal Mining Association (APBI) deplores, if the minister will not issue the mining permit production operations and sale soon, then it might affect coal ports.
On 24th January 2011, APBI has sent a letter to Minister of Energy to issue the IUP OP K PP as soon as possible. ICMA also has notified that, around 60 - 70 vessels were arrested at coal loading ports around Indonesia and losing around US$ 20000-30000 dollars per day.
Temporarily export restriction has cost around 3.5 million tons with around 227. 5 million dollars loses. If the export delay continues, then the coal which was piled for a longer period may catch fire itself.
Showing posts with label Satuday 05 Feb 2011. Show all posts
Showing posts with label Satuday 05 Feb 2011. Show all posts
Sunday, February 6, 2011
Brazil Vale buys area in Para for new port -report
Saturday, Feb05 2011
BRASILIA Feb 5 (Reuters) - Brazilian mining giant Vale VALE 5.SA (VALE.N: Quote) has bought a massive area for the construction of a new port in the state of Para, O Estado de S. Paulo newspaper reported on Saturday.
The Porto do Espadarte is still a "strategic opportunity" being studied, said Mauro Neves, planning director at Vale, according to the newspaper.
The project would help reduce the distance between the Carajas mines and shipment, the newspaper said, but faces opposition from environmental groups and others.
Neves added that any construction is unlikely to begin before 2015, according to the newspaper.
(Reporting by Ana Nicolaci da Costa; Editing by Will Dunham sourced:Reuters)
BRASILIA Feb 5 (Reuters) - Brazilian mining giant Vale VALE 5.SA (VALE.N: Quote) has bought a massive area for the construction of a new port in the state of Para, O Estado de S. Paulo newspaper reported on Saturday.
The Porto do Espadarte is still a "strategic opportunity" being studied, said Mauro Neves, planning director at Vale, according to the newspaper.
The project would help reduce the distance between the Carajas mines and shipment, the newspaper said, but faces opposition from environmental groups and others.
Neves added that any construction is unlikely to begin before 2015, according to the newspaper.
(Reporting by Ana Nicolaci da Costa; Editing by Will Dunham sourced:Reuters)
Colombia coal union, Cerrejon near deal - officials
Sat Feb 5, 2011 8:28pm GMT
* Discussions have been ongoing since early December
* Officials say workers, company near to a deal
BOGOTA Feb 5 (Reuters) -
Colombian coal workers are expected to decide on Sunday about a new compensation deal with Cerrejon, the country's largest exporter, their union said, with officials saying the two sides were near an agreement.
Cerrejon produces on average 85,000 tonnes a day of high-quality thermal coal, and any prolonged stoppage at the mine would hurt output at a time when global supplies are tight due to issues in almost all major thermal producers.
"We should have a decision by Sunday morning. Today we're going to talk to two groups of workers and tomorrow another group," Sintracarbon union president, Igor Diaz, told Reuters by telephone on Saturday.
Diaz had said on Friday that he expected a decision by midnight Saturday.
Another union official and a company negotiator said the two sides had reached an "initial" deal though it was still up to workers to accept the pact and a strike was still possible.
Originally all sides had said the deadline to decide on a strike was this weekend under Colombian law, but the company and the union said that deadline was set back to Tuesday after discussions with the labor ministry about the law.
Cerrejon and workers have been in talks since Dec. 9.
Cerrejon -- unlike privately owned Drummond and Glencore, Colombia's other top coal producers -- has listed partners, BHP Billiton (BLT.L: Quote), Anglo American (AAL.L: Quote) and Xstrata (XTA.L: Quote).
Adding to pressure to reach a deal with workers, its partners have had lower output from mines in Australia due to flooding.
In June last year, workers at U.S. coal miner Drummond reached a three-year deal, while a month later laborers at the La Jagua mine of Glencore's Prodeco unit inked a two-year deal after a five-week walkout.
Global coal markets have been vulnerable to supply disruptions in many important exporting countries, such as Australia, boosting prices. (Reporting by Luis Jaime Acosta and Jack Kimball; Editing by Paul Simao,sourced:reuters)
* Discussions have been ongoing since early December
* Officials say workers, company near to a deal
BOGOTA Feb 5 (Reuters) -
Colombian coal workers are expected to decide on Sunday about a new compensation deal with Cerrejon, the country's largest exporter, their union said, with officials saying the two sides were near an agreement.
Cerrejon produces on average 85,000 tonnes a day of high-quality thermal coal, and any prolonged stoppage at the mine would hurt output at a time when global supplies are tight due to issues in almost all major thermal producers.
"We should have a decision by Sunday morning. Today we're going to talk to two groups of workers and tomorrow another group," Sintracarbon union president, Igor Diaz, told Reuters by telephone on Saturday.
Diaz had said on Friday that he expected a decision by midnight Saturday.
Another union official and a company negotiator said the two sides had reached an "initial" deal though it was still up to workers to accept the pact and a strike was still possible.
Originally all sides had said the deadline to decide on a strike was this weekend under Colombian law, but the company and the union said that deadline was set back to Tuesday after discussions with the labor ministry about the law.
Cerrejon and workers have been in talks since Dec. 9.
Cerrejon -- unlike privately owned Drummond and Glencore, Colombia's other top coal producers -- has listed partners, BHP Billiton (BLT.L: Quote), Anglo American (AAL.L: Quote) and Xstrata (XTA.L: Quote).
Adding to pressure to reach a deal with workers, its partners have had lower output from mines in Australia due to flooding.
In June last year, workers at U.S. coal miner Drummond reached a three-year deal, while a month later laborers at the La Jagua mine of Glencore's Prodeco unit inked a two-year deal after a five-week walkout.
Global coal markets have been vulnerable to supply disruptions in many important exporting countries, such as Australia, boosting prices. (Reporting by Luis Jaime Acosta and Jack Kimball; Editing by Paul Simao,sourced:reuters)
China largest energy users boost efficiency by 20pct
Saturday, 05 Feb 2011
Bloomberg reported that China energy intensive industries cut consumption per unit of gross domestic product by more than 20% from 2006 to 2010.
Xinhua said citing the National Bureau of Statistics said Industries including oil processing, coking, nuclear-fuel processing, chemical manufacturing, smelting and electricity production saved a total of 400 million tonnes of standard coal, contributing more than 60% of the nation energy savings
Xinhua said the industries account for 77% of China industrial energy consumption and more than half the country total energy consumption.
An official from China National Development and Reform Commission in December said China will meet its target of cutting energy use per unit of GDP by 20% from 2006 to the end of 2010.(sourced:Bloomberg)
Bloomberg reported that China energy intensive industries cut consumption per unit of gross domestic product by more than 20% from 2006 to 2010.
Xinhua said citing the National Bureau of Statistics said Industries including oil processing, coking, nuclear-fuel processing, chemical manufacturing, smelting and electricity production saved a total of 400 million tonnes of standard coal, contributing more than 60% of the nation energy savings
Xinhua said the industries account for 77% of China industrial energy consumption and more than half the country total energy consumption.
An official from China National Development and Reform Commission in December said China will meet its target of cutting energy use per unit of GDP by 20% from 2006 to the end of 2010.(sourced:Bloomberg)
Saturday, February 5, 2011
US steelmaker shares down on dollar, profit-taking
Friday, Feb 4, 2011 9:47pm GMT
* U.S. steelmakers' shares fall
* Profit-taking, stronger dollar cited
* Little impact seen from proposed Nippon-Sumitomo merger
(Updates with more analyst comments, closing stocks)
NEW YORK, Feb 4 (Reuters) - The shares of U.S. steelmakers fell on Friday and analysts attributed the drop to profit-taking after a recent run-up and a stronger dollar, rather than to news of a major steel merger in Japan.
"When the dollar is up, it usually hurts commodities," said Charles Bradford of Bradford Research. "U.S. steelmakers want to export and it's better if the dollar is weak."
The dollar extended gains against the Japanese yen on Friday, boosted by optimism about the U.S. economic outlook.
Bradford also noted steel stocks had risen recently -- U.S. Steel Corp (X.N: Quote) had risen 6 percent in the week since posting a bigger-than-expected fourth-quarter loss and giving only a modest forecast for improvement in the first quarter.
But he did not think the stock drop was related to plans by Japan's Nippon Steel Corp (5401.T: Quote) and Sumitomo Metal Industries Ltd (5405.T: Quote) to create the world's No. 2 steelmaker.
"I see this as more about Japan being wary of China and other Asian competition. It's not a concern for the U.S.," he said.
Michael Locker, of steel industry consultancy Locker Associates, noted the proposed merger creates a 48-million-ton per-year producer.
"That's a big move, but I don't see a deep ... impact for U.S. steelmakers," he said.
"It will make for tougher competition on world markets, but I don't think it will squeeze U.S. steelmakers though. Japan is more focused on China."
On the New York Stock Exchange, U.S. Steel shares dropped 4 percent to close at $58.17, AK Steel Holding Corp (AKS.N: Quote) dropped 3.0 percent to $15.84 and Nucor Corp (NUE.N: Quote) ended the day 24 cents lower at $47.97. (Reporting by Steve James;editing by Gerald E. McCormick & Andre Grenon, sourced:reuters)
* U.S. steelmakers' shares fall
* Profit-taking, stronger dollar cited
* Little impact seen from proposed Nippon-Sumitomo merger
(Updates with more analyst comments, closing stocks)
NEW YORK, Feb 4 (Reuters) - The shares of U.S. steelmakers fell on Friday and analysts attributed the drop to profit-taking after a recent run-up and a stronger dollar, rather than to news of a major steel merger in Japan.
"When the dollar is up, it usually hurts commodities," said Charles Bradford of Bradford Research. "U.S. steelmakers want to export and it's better if the dollar is weak."
The dollar extended gains against the Japanese yen on Friday, boosted by optimism about the U.S. economic outlook.
Bradford also noted steel stocks had risen recently -- U.S. Steel Corp (X.N: Quote) had risen 6 percent in the week since posting a bigger-than-expected fourth-quarter loss and giving only a modest forecast for improvement in the first quarter.
But he did not think the stock drop was related to plans by Japan's Nippon Steel Corp (5401.T: Quote) and Sumitomo Metal Industries Ltd (5405.T: Quote) to create the world's No. 2 steelmaker.
"I see this as more about Japan being wary of China and other Asian competition. It's not a concern for the U.S.," he said.
Michael Locker, of steel industry consultancy Locker Associates, noted the proposed merger creates a 48-million-ton per-year producer.
"That's a big move, but I don't see a deep ... impact for U.S. steelmakers," he said.
"It will make for tougher competition on world markets, but I don't think it will squeeze U.S. steelmakers though. Japan is more focused on China."
On the New York Stock Exchange, U.S. Steel shares dropped 4 percent to close at $58.17, AK Steel Holding Corp (AKS.N: Quote) dropped 3.0 percent to $15.84 and Nucor Corp (NUE.N: Quote) ended the day 24 cents lower at $47.97. (Reporting by Steve James;editing by Gerald E. McCormick & Andre Grenon, sourced:reuters)
Bhushan Steel Oct-Dec net rises 23.3 pct
Feb 5 (Reuters) - Three months ended Dec. 31
Net profit 2.8 vs 2.27
Net sales 19.43 vs 14.29
NOTE:Bhushan Steel Ltd makes cold-rolled steel strips.
The results are standalone.(Reporting by Aniruddha Basu,MUMBAI;Editing by Robert Birsel, reuters)
Net profit 2.8 vs 2.27
Net sales 19.43 vs 14.29
NOTE:Bhushan Steel Ltd makes cold-rolled steel strips.
The results are standalone.(Reporting by Aniruddha Basu,MUMBAI;Editing by Robert Birsel, reuters)
EPA rejects EPA air permit for US Steel Granite City Works
Saturday, 05 Feb 2011
The Environmental Protection Agency has rejected parts of an air permit issued by Illinois regulators for US Steel Corporation's Granite City Works and sent the permit back to the state.
The Illinois EPA issued the permit in September 2009. The Interdisciplinary Environmental Clinic at Washington University School of Law filed an appeal with the EPA a month later on behalf of American Bottom Conservancy, a Metro East based environmental group.
The group challenged the permit on dozens of points, including that it excluded the impact of a newly built coke plant and failed to state how the emissions from the plant would be monitored under the federal Clean Air Act.
Ms Kathy Andria executive director of American Bottom Conservancy said that "Consistent monitoring is important to ensure that US Steel Granite City Works is not emitting toxic air pollutants at an unsafe level."
Ms Maggie Carson spokeswoman at Illinois EPA said that the agency plans to reissue the permit but could not discuss specific issues.(sourced:stltoday.com)
The Environmental Protection Agency has rejected parts of an air permit issued by Illinois regulators for US Steel Corporation's Granite City Works and sent the permit back to the state.
The Illinois EPA issued the permit in September 2009. The Interdisciplinary Environmental Clinic at Washington University School of Law filed an appeal with the EPA a month later on behalf of American Bottom Conservancy, a Metro East based environmental group.
The group challenged the permit on dozens of points, including that it excluded the impact of a newly built coke plant and failed to state how the emissions from the plant would be monitored under the federal Clean Air Act.
Ms Kathy Andria executive director of American Bottom Conservancy said that "Consistent monitoring is important to ensure that US Steel Granite City Works is not emitting toxic air pollutants at an unsafe level."
Ms Maggie Carson spokeswoman at Illinois EPA said that the agency plans to reissue the permit but could not discuss specific issues.(sourced:stltoday.com)
EU investigates Brazilian steel imports measures
Saturday, 05 Feb 2011
Bloomberg reported that the European Union is investigating Brazilian measures to limit steel imports because they may break World Trade Organization's rules.
Steelmaker trade association EUROFER said that the EU is Brussels didn't open a formal investigation yet and is talking to the Brazilian government before taking such a decision.
It may be recalled that Brazil's tax agency said in October 2010 that it would seek to combat irregularities in steel imports, applying taxes based on pre determined prices whenever the declared value is lower.(sourced:www.bloomberg.net)
Bloomberg reported that the European Union is investigating Brazilian measures to limit steel imports because they may break World Trade Organization's rules.
Steelmaker trade association EUROFER said that the EU is Brussels didn't open a formal investigation yet and is talking to the Brazilian government before taking such a decision.
It may be recalled that Brazil's tax agency said in October 2010 that it would seek to combat irregularities in steel imports, applying taxes based on pre determined prices whenever the declared value is lower.(sourced:www.bloomberg.net)
Colombia's Cerrejon, coal workers see progress
Saturday Feb5,2011 12:24am GMT
* No deal reached after mediation, but progress made
* Union expected to decide on Saturday on strike
* Cerrejon, workers have been in talks since early Dec
By Monica Garcia BOGOTA,
Feb 4 (Reuters) - Colombian coal workers and the nation's largest exporter, Cerrejon, failed to reach a deal on Friday but made progress in pay talks after the government scrambled to avoid a looming strike, officials said. Cerrejon produces on average 85,000 tonnes a day of high-quality thermal coal, and any prolonged stoppage at the mine would hurt output at a time when global supplies are tight due to issues in almost all major thermal producers.
Sintracarbon union President Igor Diaz said that the syndicate would present the company's proposals to workers on Saturday. "It's the workers who will decide what will happen next," he told reporters. "There were advances in some areas," he said, adding that the company had increased the salary increment to 6.5 percent for the first year from 6.3 percent previously. The union has a midnight Saturday/Sunday deadline to decidewhether to walkout, accept the deal or workers would have tovote again on a strike, according to Colombian law. "We've made great progress ... now it's in the hands of the union," Cerrejon President Leon Teicher told reporters.
Cerrejon and workers have been in talks since Dec. 9. If workers strike, it will be the first walkout in twenty years, according to the company. Colombian Vice President Angelino Garzon held an hours-longmeeting on Friday with Cerrejon executives and union leaders totry to hash out a compensation deal. "I'm optimistic that due to the willingness of the companyand the union, we're very close to a deal," Garzon said. Cerrejon -- unlike privately owned Drummond and Glencore,Colombia's other top coal producers -- has listed partners, BHPBilliton (BLT.L: Quote), Anglo American (AAL.L: Quote) and Xstrata (XTA.L: Quote),to keep happy as well as its customers. Adding to pressure to reach a deal with workers, itspartners have had lower output from mines in Australia due toflooding and would not want to lose any more production in sucha tightly balanced market set to go higher. Global coal markets have been vulnerable to supplydisruptions in many important exporting countries, such asAustralia, and that has boosted prices.(Additional reporting and writing by Jack Kimball; Editingby Gary Hill, source:Reuters)
HBIS operation revenue hits CNY 200 billion
Saturday, 05 Feb 2011
It is reported that Hebei Iron & Steel Group was confronted with expenses increase and profit decrease top CNY 10.5 billion due to the cost rise and steel industry profit level decline. However, the HBIS achieved operation revenue of CNY 220 billion with increase of 24.29%YoY through speeding structure adjustment and seizing high end market.
HBIS became the first large enterprise in Hebei history to have achieved operation revenue of over CNY 200 billion. Mr Wang Yifang President of HBIS said “It was the science & technology innovation that laid the foundation for the Group’s profit rise against the tendency.”
In 2010, HBIS broke many records in science & technology innovation area: It explored over 120 new products annually, with sales of new products reaching 2.9 million tonnes and new products contribution rate of 8.5%; It manufactured varietal steel of 20.5 million tonnes accounting for 60%, of which high-strength ocean platform steel, nuclear power steel and many other varieties successfully substituted import and fulfilled domestic market.
HBIS Group put forth effort on promotion of equipment structure adjustment and invested CNY 35.6 billion in the adjustment projects since it was established. Currently, the main equipment has realized large-scaling and modernization which laid firm foundation for product structure adjustment. Handan Steel newly added district 2.15 million tonnes CR project was built and put into production in 2010 which filled Hebei high strength automobile sheet market and domestic widest galvanized automobile sheet market. It revealed that HBIS Group was capable of producing automobile sheet with width, thickness and strength grade over 98% specifications.(sourced:mysteel.net, for real time access to China steel news)
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