Wednesday, 08 Feb 2012
Minister for Industries and Commerce, Mr SS Slathia said the government will sympathetically consider the demands of coal mine workers in view of the tough nature of their job.
He asked the management of Jammu & Kashmir Minerals Ltd to come up with a workable and financially viable action plan to meet the genuine demands of the workers and employees.
Chairing a meeting of Board of Directors, JKML, Mr Slathia, according to an official statement, constituted a high level committee comprising Commissioner/Secretary, Industries and Commerce, Special Secretary, Finance, Managing Director, JKML and representative from the Law Department.
The committee will examine all the demands of the coal mine workers and employees adding that recommendations and suggestions of the committee shall be deliberated in a Special Board Meeting of the corporation shortly.
Mr Slathia said that “We shall have to take a humanitarian view of the demands and problems of Coal Mine Workers in view of their tough job as compared to other PSUs.”
The Minister asked the management to formulate target oriented and production linked business plan to ensure a sound economic base for sustained growth of the organization.
He also called for introducing Voluntary Retirement Scheme in a big way to minimize wage bill of the corporation.
He directed for increasing coal and gypsum production which has a vast market, adding that production should be the bench mark of the Corporation’s business plan.
He said there is a potential of 3500 tonne of coal and 100,000 tonne gypsum production which needs to be exploited in the next year adding that the Corporation should reactivate its men and machinery to achieve this target.
(Sourced from www.greaterkashmir.com)
Showing posts with label coal miner. Show all posts
Showing posts with label coal miner. Show all posts
Wednesday, February 8, 2012
Wednesday, January 25, 2012
Bulgarian coal miners end strike
Wednesday, 25 Jan 2012
Bulgarian miners are resuming work at the country's biggest coal mines, ending a weeklong strike that led to a halt in electricity exports to neighboring countries.
Union leader Konstantin Trenchev said on Sunday that a compromise deal has been struck with management that includes cash bonuses for the miners and an improvement in working conditions.
The three open pit mines of the state-owned company supply coal to four thermal power plants, whose output covers a quarter of the country's electricity needs.
Bulgaria also helps supply Greece, Turkey, Serbia and Macedonia but had to suspend exports due to the strike. The Balkan country exports more than 10 billion kilowatt hours of electricity per year.
It was not immediately clear when power exports will be restarted.
(Sourced from Associated Press)
Bulgarian miners are resuming work at the country's biggest coal mines, ending a weeklong strike that led to a halt in electricity exports to neighboring countries.
Union leader Konstantin Trenchev said on Sunday that a compromise deal has been struck with management that includes cash bonuses for the miners and an improvement in working conditions.
The three open pit mines of the state-owned company supply coal to four thermal power plants, whose output covers a quarter of the country's electricity needs.
Bulgaria also helps supply Greece, Turkey, Serbia and Macedonia but had to suspend exports due to the strike. The Balkan country exports more than 10 billion kilowatt hours of electricity per year.
It was not immediately clear when power exports will be restarted.
(Sourced from Associated Press)
Friday, January 20, 2012
Two coal companies want to export coal through the Port of St Helens
Friday, 20 Jan 2012
It is reported that two shipping companies are proposing to export coal through the Port of St. Helens, putting Oregon in the mix as a shipping point to meet growing Asian demand.
On January 25, the port commission will consider separate proposals from Kinder Morgan Terminals and Pacific Transloading. A new terminal would bring badly needed jobs and development. It raises concerns with community and environmental activists who worry about exporting dirty fuel and about coal dust escaping from trains running through the Columbia River Gorge and Portland.
Mr Brett VandenHeuvel executive director of Columbia Riverkeeper said "This is going to be extremely unpopular in Oregon. I'm positive the coal companies are going to have a big fight on their hands."
Mr Patrick Trapp the port's executive director said Kinder Morgan would develop a traditional bulk export terminal at the port's Port Westward property using rail lines and building facilities to store and load coal,. The development would provide a minimum of 80 full-time jobs in addition to construction work.
He said that Pacific Transloading would receive coal by barge and directly load it onto ocean going ships. He added that "We've got two viable business operations and they both want an equal opportunity to be considered."
Mr Trapp said it's not clear yet how much coal the companies want to export. The commission could choose to pursue both proposals and one or neither.
He said that the port has been clear with both companies that it expects a clean, environmentally sound operation. The permitting and construction process which would likely take years would also include many chances for public comment.
The West Coast is a minor player in coal export now. But with Asian demand growing, there are active proposals for terminals in Longview, Wash and Bellingham, Wash. Those proposals involve coal companies with mines in the Powder River Basin a swath of productive coal lands in Montana and Wyoming.
(Sourced from www.oregonlive.com)
It is reported that two shipping companies are proposing to export coal through the Port of St. Helens, putting Oregon in the mix as a shipping point to meet growing Asian demand.
On January 25, the port commission will consider separate proposals from Kinder Morgan Terminals and Pacific Transloading. A new terminal would bring badly needed jobs and development. It raises concerns with community and environmental activists who worry about exporting dirty fuel and about coal dust escaping from trains running through the Columbia River Gorge and Portland.
Mr Brett VandenHeuvel executive director of Columbia Riverkeeper said "This is going to be extremely unpopular in Oregon. I'm positive the coal companies are going to have a big fight on their hands."
Mr Patrick Trapp the port's executive director said Kinder Morgan would develop a traditional bulk export terminal at the port's Port Westward property using rail lines and building facilities to store and load coal,. The development would provide a minimum of 80 full-time jobs in addition to construction work.
He said that Pacific Transloading would receive coal by barge and directly load it onto ocean going ships. He added that "We've got two viable business operations and they both want an equal opportunity to be considered."
Mr Trapp said it's not clear yet how much coal the companies want to export. The commission could choose to pursue both proposals and one or neither.
He said that the port has been clear with both companies that it expects a clean, environmentally sound operation. The permitting and construction process which would likely take years would also include many chances for public comment.
The West Coast is a minor player in coal export now. But with Asian demand growing, there are active proposals for terminals in Longview, Wash and Bellingham, Wash. Those proposals involve coal companies with mines in the Powder River Basin a swath of productive coal lands in Montana and Wyoming.
(Sourced from www.oregonlive.com)
Friday, January 13, 2012
Exxaro says reached agreement with mineworkers
Fri Jan 13, 2012
JOHANNESBURG (Reuters) - South Africa's Exxaro Resources said a planned strike by workers at its Arnot coal mine has been called off after it reached agreement with the union late on Thursday, the company said in a statement.
More than 1,000 mineworkers had planned to down tools from Friday, protesting employment conditions.
Exxaro is South Africa's second-largest coal producer and a major supplier to power utility Eskom.
(sourced Reuters)
JOHANNESBURG (Reuters) - South Africa's Exxaro Resources said a planned strike by workers at its Arnot coal mine has been called off after it reached agreement with the union late on Thursday, the company said in a statement.
More than 1,000 mineworkers had planned to down tools from Friday, protesting employment conditions.
Exxaro is South Africa's second-largest coal producer and a major supplier to power utility Eskom.
(sourced Reuters)
Wednesday, December 28, 2011
CoAL sells NiMag in management buyout
Wednesday, 28 Dec 2011
Coal of Africa has agreed to the sale of the NiMag Group of companies, consisting of Nimag and Metalloy Resources Investments by way of a management buyout.
CoAL considers the NiMag Group asset to be non-core and it has been classified as an asset held for sale.
The directors of NiMag will purchase a 100% interest in the group for BRL 54 million of which 60% is being funded by a combination of equity contributions and bank debt with the remaining 40% being financed by way of an interest bearing vendor financing loan provided by CoAL repayable over four years.
The transaction is expected to be completed by end-February 2012.
Mr John Wallington CoAL CEO said "This is a specialist business that under the current management team will continue to grow and develop over time. He said that our focus at CoAL is on the development of our coking coal and thermal coal businesses. Fast tracking Vele into production and concluding the feasibility study for Makhado are priorities for us. Our management and financial resources are focussed on that."
(Sourced from miningmx.com)
Coal of Africa has agreed to the sale of the NiMag Group of companies, consisting of Nimag and Metalloy Resources Investments by way of a management buyout.
CoAL considers the NiMag Group asset to be non-core and it has been classified as an asset held for sale.
The directors of NiMag will purchase a 100% interest in the group for BRL 54 million of which 60% is being funded by a combination of equity contributions and bank debt with the remaining 40% being financed by way of an interest bearing vendor financing loan provided by CoAL repayable over four years.
The transaction is expected to be completed by end-February 2012.
Mr John Wallington CoAL CEO said "This is a specialist business that under the current management team will continue to grow and develop over time. He said that our focus at CoAL is on the development of our coking coal and thermal coal businesses. Fast tracking Vele into production and concluding the feasibility study for Makhado are priorities for us. Our management and financial resources are focussed on that."
(Sourced from miningmx.com)
Friday, December 16, 2011
China Coal Energy coal output in Nov up by 14pct YoY
Friday, 16 Dec 2011
China Knowledge quoted according to a statement filed with the Shanghai Stock Exchange that China Coal Energy Co Ltd the country second-largest coal miner by revenue, produced 8.32 million tonnes of commercial coal in November this year reflecting a YoY increase of 13.8%.
Last month, China Coal Energy coke output amounted to 120,000 tonnes, down by 18.8%YoY. The company sold 10.09 million tonnes of coal in November representing a robust YoY increase of 10.2%.
In the first eleven months of this year, China Coal Energy produced 94.41 million tonnes of commercial coal up by 8.7%YoY.
During the period from January to November this year, the company coal sales reached 120.99 million tonnes increasing 11.5%YoY.
(Sourced from China Knowledge)
China Knowledge quoted according to a statement filed with the Shanghai Stock Exchange that China Coal Energy Co Ltd the country second-largest coal miner by revenue, produced 8.32 million tonnes of commercial coal in November this year reflecting a YoY increase of 13.8%.
Last month, China Coal Energy coke output amounted to 120,000 tonnes, down by 18.8%YoY. The company sold 10.09 million tonnes of coal in November representing a robust YoY increase of 10.2%.
In the first eleven months of this year, China Coal Energy produced 94.41 million tonnes of commercial coal up by 8.7%YoY.
During the period from January to November this year, the company coal sales reached 120.99 million tonnes increasing 11.5%YoY.
(Sourced from China Knowledge)
Monday, December 12, 2011
New Mining Bill tabled in Lok Sabha
Monday, December 12, 2011
New Delhi: The Mines Ministry today tabled the new Mining Bill in Lok Sabha proposing coal miners to share 26% of the profit and non-coal miners' 100% of the royalty annually to project-affected people.
The Mines and Minerals (Development and Regulation) Bill, 2011, which will replace the over-a-century old, often-amended Act of 1957, also seeks to empower state governments to constitute special courts for the purpose of providing speedy trial of offences relating to illegal mining.
"The holder of a mining lease shall pay annually to the District Mineral Foundation...In case of major minerals [except coal and lignite] an amount equivalent to the royalty paid during the financial year," the Bill proposes.
"...In case of coal and lignite, an amount equivalent to twenty six% of the profit...In case of minor minerals, such amount as may be prescribed by the State government with the concurrence of the National Mining Regulatory Authority," it added.
The long-pending Bill also envisages introduction of competitive bidding process to encourage participation of private parties and a change in the role of the central and state governments, particularly to incentivise them for investing in exploration and mining.
The Mines & Minerals (Development and Regulation) Bill, 2011 provides for a simple and transparent mechanism for grant of mining lease or prospecting licence through competitive bidding in areas of known mineralisation, and on the basis of first-in-time in areas where mineralisation is not known.
(sourced Business Standard)
New Delhi: The Mines Ministry today tabled the new Mining Bill in Lok Sabha proposing coal miners to share 26% of the profit and non-coal miners' 100% of the royalty annually to project-affected people.
The Mines and Minerals (Development and Regulation) Bill, 2011, which will replace the over-a-century old, often-amended Act of 1957, also seeks to empower state governments to constitute special courts for the purpose of providing speedy trial of offences relating to illegal mining.
"The holder of a mining lease shall pay annually to the District Mineral Foundation...In case of major minerals [except coal and lignite] an amount equivalent to the royalty paid during the financial year," the Bill proposes.
"...In case of coal and lignite, an amount equivalent to twenty six% of the profit...In case of minor minerals, such amount as may be prescribed by the State government with the concurrence of the National Mining Regulatory Authority," it added.
The long-pending Bill also envisages introduction of competitive bidding process to encourage participation of private parties and a change in the role of the central and state governments, particularly to incentivise them for investing in exploration and mining.
The Mines & Minerals (Development and Regulation) Bill, 2011 provides for a simple and transparent mechanism for grant of mining lease or prospecting licence through competitive bidding in areas of known mineralisation, and on the basis of first-in-time in areas where mineralisation is not known.
(sourced Business Standard)
6 coal firms unite for QR National rail access bid
Monday, 12 Dec 2011
Six coal companies will be allowed to collectively bargain with QR National for access to rail infrastructure.
The companies will act as one, when negotiating prices and access to the Goonyella, Blackwater and Newlands coal rail systems.
The rail systems will link up with the export terminal at Abbot Point, near Bowen in north Queensland.
Last week, it was announced the port would be expanded from three berths to nine.
The Australian Competition and Consumer Commission has given preliminary approval for the negotiations, with a final ruling in March.
(sourced ABC.net.au)
Six coal companies will be allowed to collectively bargain with QR National for access to rail infrastructure.
The companies will act as one, when negotiating prices and access to the Goonyella, Blackwater and Newlands coal rail systems.
The rail systems will link up with the export terminal at Abbot Point, near Bowen in north Queensland.
Last week, it was announced the port would be expanded from three berths to nine.
The Australian Competition and Consumer Commission has given preliminary approval for the negotiations, with a final ruling in March.
(sourced ABC.net.au)
Friday, December 9, 2011
Glencore takes stake in SA coal firm
Friday, Dec 09 2011
Johannesburg - Commodities giant Glencore said on Wednesday it has completed the acquisition of a 43.66% stake in an unlisted South African coal mining business for R900m.
Glencore said in a statement that the stake in Umcebo Mining gives it access to South Africa’s principal coal field in the northeastern Mpumalanga province.
“In addition the transaction also secures access to an eventual 1.5 million metric tonnes of export allocation in Phase V of the Richards Bay Coal Terminal,” it said.
Umcebo has three thermal coal mines in operation and a stand-alone wash plant, with a total annual production capacity of 7.2 million run of mine metric tonnes.
Glencore has also been trying to gain control of South African coal miner Optimum as part of its strategy to become a major force in all top coal exporting regions.
Sourced: Reuters
Johannesburg - Commodities giant Glencore said on Wednesday it has completed the acquisition of a 43.66% stake in an unlisted South African coal mining business for R900m.
Glencore said in a statement that the stake in Umcebo Mining gives it access to South Africa’s principal coal field in the northeastern Mpumalanga province.
“In addition the transaction also secures access to an eventual 1.5 million metric tonnes of export allocation in Phase V of the Richards Bay Coal Terminal,” it said.
Umcebo has three thermal coal mines in operation and a stand-alone wash plant, with a total annual production capacity of 7.2 million run of mine metric tonnes.
Glencore has also been trying to gain control of South African coal miner Optimum as part of its strategy to become a major force in all top coal exporting regions.
Sourced: Reuters
Tuesday, November 8, 2011
NTPC loosing Rs 10.40 cr/day due to litigation over Rs 10,000 cr boiler contract
Tuesday, 8 Nov, 2011
NEW DELHI: State-run NTPC has lost Rs 1,900 crore due to six months' delay in award of an equipment tender related to power projects worth Rs 53,000 crore because of a court battle over the award of the contract, company sources said.
The company has estimated a revenue loss of Rs 10.40 crore per day as it awaits Supreme Court's verdict for award of Rs 10,000 crore boiler contract. NTPC had disqualified Ansaldo Caldaie from the equipment supply tender but on March 1 the Delhi high court had ruled against NTPC's decision to disqualify Ansaldo Caldaie India, a 73% subsidiary of Gammon India. NTPC subsequently approached the Supreme Court.
Apex Court had turned down NTPC's plea to go ahead with the bidding procedure before final judgment. "The estimated cost of these projects is approximately Rs 53,000 crore and each day delay of these projects cause a generation loss of approximately 148 million units of electricity. This will cause approximately Rs 10.40 crore per day loss on return on equity employed," a senior NTPC official said.
Delay in the judgment is holding up five power projects at a time when the country faces a 14% energy deficit. About 7,260-mw generation capacity is proposed to be set up by NTPC benefiting energy-starved states like Bihar, Uttar Pradesh and West Bengal.
The matter has not come up for discussion after summer vacations of the Supreme Court though it was sought to be disposed off by July 20. Sources said the matter had been listed in the court's agenda several times but could not be taken up for deliberations for lack of time. The case was last listed on Oct 13 in the court's agenda.
Ansaldo was disqualified in the first round of the bidding of the boiler contract while Bharat Heavy Electricals Ltd, Larsen & Toubro and BGR Energy qualified. NTPC had disqualified Ansaldo Caldaie from the bulk tender saying it does not have competence to supply evaporator, water wall - a critical component in boilers. Ansaldo said supplying self-designed evaporators' was not mentioned as qualifying criteria in NTPC notice inviting tender.
(sourced Economic Times)
NEW DELHI: State-run NTPC has lost Rs 1,900 crore due to six months' delay in award of an equipment tender related to power projects worth Rs 53,000 crore because of a court battle over the award of the contract, company sources said.
The company has estimated a revenue loss of Rs 10.40 crore per day as it awaits Supreme Court's verdict for award of Rs 10,000 crore boiler contract. NTPC had disqualified Ansaldo Caldaie from the equipment supply tender but on March 1 the Delhi high court had ruled against NTPC's decision to disqualify Ansaldo Caldaie India, a 73% subsidiary of Gammon India. NTPC subsequently approached the Supreme Court.
Apex Court had turned down NTPC's plea to go ahead with the bidding procedure before final judgment. "The estimated cost of these projects is approximately Rs 53,000 crore and each day delay of these projects cause a generation loss of approximately 148 million units of electricity. This will cause approximately Rs 10.40 crore per day loss on return on equity employed," a senior NTPC official said.
Delay in the judgment is holding up five power projects at a time when the country faces a 14% energy deficit. About 7,260-mw generation capacity is proposed to be set up by NTPC benefiting energy-starved states like Bihar, Uttar Pradesh and West Bengal.
The matter has not come up for discussion after summer vacations of the Supreme Court though it was sought to be disposed off by July 20. Sources said the matter had been listed in the court's agenda several times but could not be taken up for deliberations for lack of time. The case was last listed on Oct 13 in the court's agenda.
Ansaldo was disqualified in the first round of the bidding of the boiler contract while Bharat Heavy Electricals Ltd, Larsen & Toubro and BGR Energy qualified. NTPC had disqualified Ansaldo Caldaie from the bulk tender saying it does not have competence to supply evaporator, water wall - a critical component in boilers. Ansaldo said supplying self-designed evaporators' was not mentioned as qualifying criteria in NTPC notice inviting tender.
(sourced Economic Times)
Saturday, November 5, 2011
Jiangxi Coal Goup to issue CNY 600 million in notes
Saturday, 05 Nov 2011
China Knowledge reported that Jiangxi Coal Group Corp a state owned coal producer in China will issue CNY 600 million worth of medium term notes with a maturity of three years on November 9.
The company said in a statement that the notes will be issued at face value and the coupon rate be determined during the process of book building. Both value date and payment due date is November 11 and the to-be-issued notes tradable on November 14.
The company will use CNY 200 million of the proceeds to replenish its working capital and the remaining CNY 400 million for project investment.
China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA and AA respectively. China CITIC Bank Corp has been hired as lead underwriter for the offering.
(Sourced from China Knowledge)
China Knowledge reported that Jiangxi Coal Group Corp a state owned coal producer in China will issue CNY 600 million worth of medium term notes with a maturity of three years on November 9.
The company said in a statement that the notes will be issued at face value and the coupon rate be determined during the process of book building. Both value date and payment due date is November 11 and the to-be-issued notes tradable on November 14.
The company will use CNY 200 million of the proceeds to replenish its working capital and the remaining CNY 400 million for project investment.
China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA and AA respectively. China CITIC Bank Corp has been hired as lead underwriter for the offering.
(Sourced from China Knowledge)
Berau starts to explore binungan site - Insider Stories
Saturday, 05 November 11
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in Block 1 Binungan mine site (Prapatan) with a target production of 500,000 tons.
The output expansion is intended to underpin BRAU's annual production of 23 million tons. BRAU is now 85% controlled by Bumi Plc, a London-based company that was founded by Nathaniel Rothschild.
Public Relations Manager Berau Coal Bintoro Prabowo said the company started a mining construction at Prapatan last month.
"Reserves at Binungan site is estimated about 10 million tons. We expect to produce 500,000 tons of coal next year," he said as quoted by Bisnis Indonesia today.
Berau Coal produced 17.3 million tons last year, 20.3 million tons this year, and 23 million tons next year.
source: Insider Stories & coalspot.com
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Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in Block 1 Binungan mine site (Prapatan) with a target production of 500,000 tons.
The output expansion is intended to underpin BRAU's annual production of 23 million tons. BRAU is now 85% controlled by Bumi Plc, a London-based company that was founded by Nathaniel Rothschild.
Public Relations Manager Berau Coal Bintoro Prabowo said the company started a mining construction at Prapatan last month.
"Reserves at Binungan site is estimated about 10 million tons. We expect to produce 500,000 tons of coal next year," he said as quoted by Bisnis Indonesia today.
Berau Coal produced 17.3 million tons last year, 20.3 million tons this year, and 23 million tons next year.
source: Insider Stories & coalspot.com
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Friday, November 4, 2011
CoAL raises funds for projects
Shares placed with select investors at a discount of 10,5% to the Wednesday price on London’s AIM, funds to be used for growth projects
Friday, 4 November, 2011
COAL of Africa (CoAL) has raised about $106m in a share placement yesterday, giving it the money to buy the Chapudi thermal and coking coal prospect from Rio Tinto, advance its Makhado project and bring its Vele mine into production early next year.
The shares were placed with select investors at R6,50 each, a 7% discount to Wednesday’s close of R7 on the JSE. The discount was 10,5% to the Wednesday price on London’s AIM. The placing price was set at 51p. The shares closed down 6c at R6,94.
CoAL CEO John Wallington said the funds would be split between the growth projects the company has in its portfolio.
"This funding buys us the time to carry out the projects I’ve referred to, but it also gives us the time to make the right strategic decisions over the next six to 12 months," he said.
Management would restructure the business over the next year to avoid having to come to the market for funds again, he said.
CoAL has allocated $25m to starting Vele, paying the first tranche of $43m to Rio Tinto and a year of exploration work at Chapudi worth $15m. It has set aside $17m, which will be used to pay a deposit to Transnet.
CoAL could not come to the market any earlier because of difficulty obtaining permits for its Vele coking coal project in Limpopo. There were objections from environmentalists because of its proximity to the Mapungubwe World Heritage site. CoAL has now secured all the permits it needs to reactivate the Vele project and bring it into production early next year.
The market had been expecting the share placement. "No huge surprise given the poor sets of results and recent successes in permitting," Numis Securities said in a note.
Merrill Lynch said the placement would dilute earnings per share, but it maintained a "buy" rating on the share.
(sourced BusinessDay)
Friday, 4 November, 2011
COAL of Africa (CoAL) has raised about $106m in a share placement yesterday, giving it the money to buy the Chapudi thermal and coking coal prospect from Rio Tinto, advance its Makhado project and bring its Vele mine into production early next year.
The shares were placed with select investors at R6,50 each, a 7% discount to Wednesday’s close of R7 on the JSE. The discount was 10,5% to the Wednesday price on London’s AIM. The placing price was set at 51p. The shares closed down 6c at R6,94.
CoAL CEO John Wallington said the funds would be split between the growth projects the company has in its portfolio.
"This funding buys us the time to carry out the projects I’ve referred to, but it also gives us the time to make the right strategic decisions over the next six to 12 months," he said.
Management would restructure the business over the next year to avoid having to come to the market for funds again, he said.
CoAL has allocated $25m to starting Vele, paying the first tranche of $43m to Rio Tinto and a year of exploration work at Chapudi worth $15m. It has set aside $17m, which will be used to pay a deposit to Transnet.
CoAL could not come to the market any earlier because of difficulty obtaining permits for its Vele coking coal project in Limpopo. There were objections from environmentalists because of its proximity to the Mapungubwe World Heritage site. CoAL has now secured all the permits it needs to reactivate the Vele project and bring it into production early next year.
The market had been expecting the share placement. "No huge surprise given the poor sets of results and recent successes in permitting," Numis Securities said in a note.
Merrill Lynch said the placement would dilute earnings per share, but it maintained a "buy" rating on the share.
(sourced BusinessDay)
Ukraine’s coal mining output up nine percent in Jan-Oct
Friday, 04 November 2011
According to the Ministry of Energy and Coal Industry of Ukraine, in the January-October period of the current year Ukraine's coal mining output increased by 9.3 percent or 6.771 million mt year on year to 67.696 million mt, including 20.710 million mt of coking coal and 46.986 million mt of thermal coal.
Tags: coking coal , Ukraine , raw mat , CIS , mining , production
sourced: steel orbis
According to the Ministry of Energy and Coal Industry of Ukraine, in the January-October period of the current year Ukraine's coal mining output increased by 9.3 percent or 6.771 million mt year on year to 67.696 million mt, including 20.710 million mt of coking coal and 46.986 million mt of thermal coal.
Tags: coking coal , Ukraine , raw mat , CIS , mining , production
sourced: steel orbis
Saturday, October 29, 2011
Coal miners allowed collective negotiations for Dudgeon Point
Saturday, 29 Oct 2011
Australian Competition and Consumer Commission has granted interim authorisation for coal miners to collectively negotiate with Dudgeon Point terminal management.
Carabella Resources, Macarthur Coal, Middlemount Coal, New Hope, and Peabody are all seeking port capacity to export from the terminal. This authorisation allows the miners to begin negotiations with the port while the ACCC assesses their applications. However it does not allow them to enter into any contracts or agreements.
The ACCC added that the granting of interim authorization in no way binds the ACCC in its consideration of the substantive application for authorization.
It provides immunity from court action for conduct that might otherwise raise concerns under the competition provisions of the Competition and Consumer Act 2010. Broadly, the ACCC may grant an authorization when it is satisfied that the public benefit from the conduct outweighs any public detriment.
Dudgeon Point will be built near the existing Hay Point and Dalrymple Bay coal ports. The Greens have recently raised fears over the development of the coal terminals in the area, senator Ms Larissa Waters stating that the community is saying their homes are being blanketed with coal dust and they need to keep their windows shut through the whole of summer.
She said "The noise of the trains, conveyor belts and helicopters is quite unbearable, I am told, and they're already doing an awful lot of dredging."
A draft decision on the miners' applications will be released in December.
sourced from Miningaustralia
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Australian Competition and Consumer Commission has granted interim authorisation for coal miners to collectively negotiate with Dudgeon Point terminal management.
Carabella Resources, Macarthur Coal, Middlemount Coal, New Hope, and Peabody are all seeking port capacity to export from the terminal. This authorisation allows the miners to begin negotiations with the port while the ACCC assesses their applications. However it does not allow them to enter into any contracts or agreements.
The ACCC added that the granting of interim authorization in no way binds the ACCC in its consideration of the substantive application for authorization.
It provides immunity from court action for conduct that might otherwise raise concerns under the competition provisions of the Competition and Consumer Act 2010. Broadly, the ACCC may grant an authorization when it is satisfied that the public benefit from the conduct outweighs any public detriment.
Dudgeon Point will be built near the existing Hay Point and Dalrymple Bay coal ports. The Greens have recently raised fears over the development of the coal terminals in the area, senator Ms Larissa Waters stating that the community is saying their homes are being blanketed with coal dust and they need to keep their windows shut through the whole of summer.
She said "The noise of the trains, conveyor belts and helicopters is quite unbearable, I am told, and they're already doing an awful lot of dredging."
A draft decision on the miners' applications will be released in December.
sourced from Miningaustralia
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Thursday, October 20, 2011
Expert group to meet to review royalty on minerals in India
Thursday, 20 Oct 2011
ET reported that an expert group of the Mines Ministry will hold its first meeting this week to review the royalty rates due for revision next year for all major minerals other than coal, lignite and sand.
The 17 member study group which will submit its report in six months, will not only take into account the present Act governing royalty but also the new draft mines law Mines and Mineral Bill which is likely to be tabled in the winter session of Parliament.
A Mines Ministry official said "The first meeting of the Study Group constituted under the chairmanship of Additional Secretary (Mines), Mr Sanjay Srivastava regarding revision of royalty rates and rates of dead rent for minerals (other than coal, lignite and sand for stowing) has been convened here on October 21."
There are 51 minerals prescribed in the second schedule of the MMDR Act 1957 and the rates vary from mineral to mineral. The royalty on iron ore is 10 per cent at present.
Mr S Vijay Kumar Mines Secretary had said earlier that the group will not only review the royalty rates based on existing Act but will also recommend royalty as per the new mines Bill and the mechanism for its computation.
He said that the committee will also recommend royalty as per MMDR Bill, 2011 taking into account the liabilities on the lease holder.
The proposed new Mines law provides that the coal miners share 26% of the profit and others an amount equivalent to royalty amount with the project-affected people.
The next upward revision in royalty rates is due in August 2012. Rates are revised every three years and the last revision was done with effect from August 13 2009.
(sourced Economic Time)
ET reported that an expert group of the Mines Ministry will hold its first meeting this week to review the royalty rates due for revision next year for all major minerals other than coal, lignite and sand.
The 17 member study group which will submit its report in six months, will not only take into account the present Act governing royalty but also the new draft mines law Mines and Mineral Bill which is likely to be tabled in the winter session of Parliament.
A Mines Ministry official said "The first meeting of the Study Group constituted under the chairmanship of Additional Secretary (Mines), Mr Sanjay Srivastava regarding revision of royalty rates and rates of dead rent for minerals (other than coal, lignite and sand for stowing) has been convened here on October 21."
There are 51 minerals prescribed in the second schedule of the MMDR Act 1957 and the rates vary from mineral to mineral. The royalty on iron ore is 10 per cent at present.
Mr S Vijay Kumar Mines Secretary had said earlier that the group will not only review the royalty rates based on existing Act but will also recommend royalty as per the new mines Bill and the mechanism for its computation.
He said that the committee will also recommend royalty as per MMDR Bill, 2011 taking into account the liabilities on the lease holder.
The proposed new Mines law provides that the coal miners share 26% of the profit and others an amount equivalent to royalty amount with the project-affected people.
The next upward revision in royalty rates is due in August 2012. Rates are revised every three years and the last revision was done with effect from August 13 2009.
(sourced Economic Time)
Saturday, October 15, 2011
Coal miner Walter's shares rise on takeover talk
Sat, Oct15, 2011
* Stock rises for second consecutive day
* Two newspaper reports say Walter Energy is target
(Reuters) - Shares of Walter Energy rose for a second day on Friday on reports that the U.S. coal mining company is the target of a takeover.
The newspaper, The Australian, reported that BHP Billiton , the world's largest mining company, is considering a $6 billion bid for the company. It cited no sources.
On Thursday, a British newspaper, The Independent, said BHP and Anglo American were interested in acquiring Walter, which has large reserves of steel-making metallurgical coal. That report said Anglo had poured cold water on such talk when it first came up in September.
BHP declined to comment. The company has flagged that it would chase acquisitions in commodities where it is not one of the leading players, after it was forced to scrap three big takeovers between between 2008 and 2010 on competition and political concerns.
As one of the world's biggest coal producers, it would be likely to run into competition hurdles if it bid for Walter Energy.
UBS analyst Glyn Lawcock played down the likelihood that BHP would be interested in Walter Energy as BHP has the ability to double coking coal production from its Australian operations and is also focusing on Indonesia.
"U.S. coal producers are generally higher cost and lower margin than Australian assets within BHP current portfolio. I'm not sure why BHP would want to do it," he said.
A spokesman for Alabama-based Walter said the company would not comment on speculation
The company's shares rose 12 percent on Thursday and jumped 6 percent on Friday morning before easing to close up 2.8 percent at $77.36.
Analyst Lucas Pipes, of Brean Murray Carret & Co, said the price rise was clearly linked to the market talk that Walter was a target.
He said U.S. coal producer Peabody Energy and European steelmaker ArcelorMittal had just received final approval to go ahead with their joint acquisition of Australian miner Macarthur Coal .
"That indicates there's still a lot of demand for met coal reserves and Walter falls into that category," Pipes said.
Other U.S. coal stocks rose on Friday on macro-economic issues, analysts said. Alpha Natural Resources ended up 4.8 percent to $21.65, Arch Coal finished 4.4 percent higher at $17.50 and Peabody Energy rose 3.2 percent to $39.46. The Dow Jones coal index closed 4.4 percent higher.
* Stock rises for second consecutive day
* Two newspaper reports say Walter Energy is target
(Reuters) - Shares of Walter Energy rose for a second day on Friday on reports that the U.S. coal mining company is the target of a takeover.
The newspaper, The Australian, reported that BHP Billiton , the world's largest mining company, is considering a $6 billion bid for the company. It cited no sources.
On Thursday, a British newspaper, The Independent, said BHP and Anglo American were interested in acquiring Walter, which has large reserves of steel-making metallurgical coal. That report said Anglo had poured cold water on such talk when it first came up in September.
BHP declined to comment. The company has flagged that it would chase acquisitions in commodities where it is not one of the leading players, after it was forced to scrap three big takeovers between between 2008 and 2010 on competition and political concerns.
As one of the world's biggest coal producers, it would be likely to run into competition hurdles if it bid for Walter Energy.
UBS analyst Glyn Lawcock played down the likelihood that BHP would be interested in Walter Energy as BHP has the ability to double coking coal production from its Australian operations and is also focusing on Indonesia.
"U.S. coal producers are generally higher cost and lower margin than Australian assets within BHP current portfolio. I'm not sure why BHP would want to do it," he said.
A spokesman for Alabama-based Walter said the company would not comment on speculation
The company's shares rose 12 percent on Thursday and jumped 6 percent on Friday morning before easing to close up 2.8 percent at $77.36.
Analyst Lucas Pipes, of Brean Murray Carret & Co, said the price rise was clearly linked to the market talk that Walter was a target.
He said U.S. coal producer Peabody Energy and European steelmaker ArcelorMittal had just received final approval to go ahead with their joint acquisition of Australian miner Macarthur Coal .
"That indicates there's still a lot of demand for met coal reserves and Walter falls into that category," Pipes said.
Other U.S. coal stocks rose on Friday on macro-economic issues, analysts said. Alpha Natural Resources ended up 4.8 percent to $21.65, Arch Coal finished 4.4 percent higher at $17.50 and Peabody Energy rose 3.2 percent to $39.46. The Dow Jones coal index closed 4.4 percent higher.
Saturday, October 8, 2011
The Coal Association of Canada
Headquartered in Calgary, Alberta, The Coal Association of Canada represents companies engaged in the exploration, development, use and transportation of coal. Its members include major coal producers and coal-using utilities, the railroads and ports that ship coal, industry suppliers of goods and services, and municipalities that have an interest in furthering the objectives of the Coal Association.
The Coal Association of Canada provides a forum to discuss and coordinate the views of its members on matters of common interest. It provides a respected voice which enhances the viability of the industry by advocating the clean use of coal through technology development. The Association's "Coal Core" program of Communications, Outreach and Education is instructive in helping stakeholders learn about the use of coal in the 21st century.
1 Browse Membership Directory
2 Complete List of Members
sourced : The Coal Association of Canada
The Coal Association of Canada provides a forum to discuss and coordinate the views of its members on matters of common interest. It provides a respected voice which enhances the viability of the industry by advocating the clean use of coal through technology development. The Association's "Coal Core" program of Communications, Outreach and Education is instructive in helping stakeholders learn about the use of coal in the 21st century.
1 Browse Membership Directory
2 Complete List of Members
sourced : The Coal Association of Canada
Monday, March 21, 2011
Thai PTT completes Australian Straits Resources deal
Mon Mar 21, 2011 4:12am GMT
* Seeks delisting of Australian mining firm
* Shares up 1.5 pct, outperform market
BANGKOK, March 21 (Reuters) - Thailand's top energy company, PTT Pcl (PTT.BK: Quote) said on Monday it had completed the acquisition of Australia's Straits Resources Ltd (SRL.AX: Quote) and would delist the coal miner from the Australian stock exchange
PTT told the Thai exchange the Federal Court of Australia had approved the takeover, under which PTT Mining Ltd (PTTML) would acquire all of the shares in Straits Resources, renamed International Coal Holdings Ltd (ICL), for A$544.1 million ($546 million).
The company said all the shares in ICL had now been registered in the name of PTTML.
PTT said in November last year it was buying 100 percent of the Australian mining firm as part of its long-term strategy to focus on high-quality coal assets with good growth prospects.
PTT Mining is a wholly owned subsidiary of PTT International Co Ltd, a holding company set up to invest in overseas businesses for the Thai energy giant.
State-owned PTT, Asia-Pacific's third-largest listed oil and gas firm by market value, has been looking to snap up foreign assets in a bid to diversify risk and bolster its presence in the international market.
PTT spent $335 million in April 2009 to buy part of Straits Resources' coal and salt assets, its first foray into the coal business and its second investment in Australia.
The company had said it expected to boost its coal output after the Straits Resources and other acquisitions to 30 million tonnes in the next five years.
At 0334 GMT, PTT shares were up 1.5 percent at 342 baht while the broader market .SETI was 1 percent higher. ($1= 30.30 Baht) (Reporting by Ploy Ten Kate; Editing by Alan Raybould,sourced reuters)
PTT told the Thai exchange the Federal Court of Australia had approved the takeover, under which PTT Mining Ltd (PTTML) would acquire all of the shares in Straits Resources, renamed International Coal Holdings Ltd (ICL), for A$544.1 million ($546 million).
The company said all the shares in ICL had now been registered in the name of PTTML.
PTT said in November last year it was buying 100 percent of the Australian mining firm as part of its long-term strategy to focus on high-quality coal assets with good growth prospects.
PTT Mining is a wholly owned subsidiary of PTT International Co Ltd, a holding company set up to invest in overseas businesses for the Thai energy giant.
State-owned PTT, Asia-Pacific's third-largest listed oil and gas firm by market value, has been looking to snap up foreign assets in a bid to diversify risk and bolster its presence in the international market.
PTT spent $335 million in April 2009 to buy part of Straits Resources' coal and salt assets, its first foray into the coal business and its second investment in Australia.
The company had said it expected to boost its coal output after the Straits Resources and other acquisitions to 30 million tonnes in the next five years.
At 0334 GMT, PTT shares were up 1.5 percent at 342 baht while the broader market .SETI was 1 percent higher. ($1= 30.30 Baht) (Reporting by Ploy Ten Kate; Editing by Alan Raybould,sourced reuters)
Tuesday, February 22, 2011
Indonesia's Adaro Energy says its unit secures $400 mln loan facility
Tue Feb 22, 2011 7:16am GMT
JAKARTA Feb 22 (Reuters)
PT Adaro Energy , Indonesia's biggest coal miner by market value, said on Tuesday that its contractor unit, PT Saptaindra Sejati, had secured a $400 million facilities agreement from 13 banks, including PT Bank Mandiri .
(Reporting by Fathiya Dahrul, sourced:Thomson Reuters)
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