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voda 28 augustus 2020 15:44

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Adani Launches Civil Legal Proceedings against Anti Coal Activist

Adani has launched civil legal proceedings against anti fossil fuel activist Ben Pennings to protect its rights and to carry out legal and legitimate business activities free from intimidation and harassment. A civil damages case has today been filed in the Queensland Supreme Court. Adani is claiming that Mr Pennings has orchestrated a sustained campaign of harassment and intimidation against Adani's business, employees, contractors and potential business partners spanning almost a decade. This legal action does not seek to limit free speech. The civil legal action seeks to limit the campaign of alleged harassment and intimidation orchestrated by Mr Pennings against its business that aims to prevent it from legally and legitimately pursuing our commercial interests.

Adani is alleging that Mr Pennings has been instrumental in organising blockades and the occupation of offices and industrial premises of many of it existing and potential suppliers, as well as some organisations that have absolutely no association with Adani. Adani claims that he has caused distress to workers whose offices he has entered and he has used intimidation in an attempt to force meetings with executives. He has live-streamed video of Adani employees and our contractors and used their images without their consent or knowledge across social media channels in an alleged attempt to belittle and intimidate them. After almost a decade of this type of intimidation Adani is saying enough is enough and we are exercising our legal rights to put an end to this obsessive and, in some cases, dangerous behaviour.

Construction of the Carmichael Mine and Rail project commenced in June 2019 and works are continuing in line with COVID-19 restrictions. Throughout the construction phase of the project, activists have repeatedly sought to disrupt our operations, blockading entry and exit points to our mine camp and access roads. While this behaviour has had no immediate impact on our progress, it has put Adani employees, contractors and the activists themselves in potential danger.

The case pursues Mr Pennings, and potentially some of his associates, for the commission of multiple torts against Adani. Chief among them are:
Trespass on land
Trespass against goods
Inducing breach of contract
Tort of intimidation

Source : STRATEGIC RESEARCH INSTITUTE

voda 28 augustus 2020 15:45

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High Speed Filling System at Solntsevsky Coal Mine

Eastern Mining Company’s Solntsevsky coal mine has introduced modern high-speed refueling of mining equipment. The new system allows reducing the time for refueling one piece of equipment by 2.5 times and increasing the time of mining equipment productivity. As part of the introduction of a high-speed refueling system, the fuel dispensers were modernized. The throughput of the fuel was increased by increasing the diameter of the pipeline, more powerful high-performance pumps were installed, increasing the fuel supply capacity from 250 to 500-600 liters per minute. Also, the quick disconnect couplings have been improved for faster and more convenient machine maintenance. Thanks to technical updates, it was possible to achieve the required pressure in the fuel tank, which automatically closes the valve of the filling nozzle when the tank is full.

The whole range of implemented measures has reduced the time spent on replenishing the mining transport units with fuel. For example, earlier it took 15 minutes to refuel BelAZ with a carrying capacity of 220 tons with a tank volume of 2150 liters. The refueling time is now 6 minutes.

Within the framework of the project, a regulation has been developed that allows regulating the supply of equipment to a gas station. The refueling process is carried out using the automated dispatching system "Karyer", which monitors the amount of fuel remaining in the tanks, the location of the equipment, the dispenser load and makes the optimal decision on refueling.

The commissioning of a new high-speed fueling system made it possible to create an additional 10 new jobs in the Uglegorsk region. Refuellers work in shifts, which ensure round-the-clock and uninterrupted operation of the gas station.

Source : STRATEGIC RESEARCH INSTITUTE

voda 28 augustus 2020 15:46

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Anglo Pacific Results for H1 of 2020

Anglo Pacific Group PLC announced interim results for the six months ended 30 June 2020. The Group’s portfolio contribution for H1 2020 of GBP 19.1 million was 43% lower than H1 2019 as a result of the significant decrease in coal prices during Q2 2020 caused by the COVID-19 pandemic. The impact of lower coal prices is compounded in the Group’s Kestrel royalty as they also result in a lower royalty rate. A number of other one-off events at Maracás Menchen and LIORC also resulted in the lower portfolio contribution. Despite the Group’s performance in the first half of 2020, as we are anticipating an increase in portfolio contribution in H2 2020 we are maintaining the Group’s quarterly dividend of 1.75p per share, in line with the Group’s stated objective to return a significant portion of its income to shareholders as dividends.

OUTLOOK

Stronger results expected in H2 2020 across much of the portfolio

Kestrel should benefit from the recent improvement in coking coal prices and COVID-19 related port restriction impacting the Indian market being relaxed

LIORC expected to benefit from iron ore prices currently trading at twelve-month highs whilst demand fundamentals remain strong

Enhanced margins expected at Maracás Menchen following conclusion of discounts associated with the Glencore offtake arrangement and transition to an in-house sales function in Q2 2020

Increased cashflows from the Denison financing agreement with operations restarting at the McClean Lake mill following COVID-19 related disruptions
Substantial undrawn borrowings available to finance further growth in H2 2020

Source : STRATEGIC RESEARCH INSTITUTE

voda 28 augustus 2020 15:47

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CIL Orders 96 Dumpers from Belaz for SECL

Coal India Limited has placed orders worth INR 2,900 crore with a Belarus-based mining equipment manufacturing company Belaz for 96 dumpers to speed up production in its coalfields through a global tender process. The 240 tonne dumpers will be used in the Gevra and Kusmunda mines in CIL subsidiary South Eastern Coalfields area.

A large number of Heavy Earth Moving Machines are being procured and deployed in SECL mines. In Gevra Open Cast Mine itself, total of 84 dumpers with 150T capacity, nine dozers of 850 HP, four electric hydraulic shovels of 16 Cubic Meter capacity and two wheel dozers of 460 HP are being procured and deployed. Out of these 32 dumpers, two shovels, nine dozers of 850 HP and two wheel dozers of 460 HP are received. Remaining machines are due shortly.

Similarly, in Kusmunda Open Cast Mine, five surface miners, three electric hydraulic shovel of 10.2 Cubic Meter, 10 front-end loaders 10 Cubic Meter, two crawler dozers of 850 HP and one wheel dozer of 460 HP are being procured and deployed. Out of these, a surface miner, six front-end loader and one wheel dozer is due shortly. Rest of the machines have been made available in Kusmunda Mine. Also, in Dipka Open Cast Mine, two electric hydraulic shovels of 10.2 Cubic Meter capacity have been procured and deployed.

It is pertinent to mention that Gevra Open Cast, Kusmunda Open Cast and Dipka Open Cast are the mega projects of SECL and have a huge bearing on the annual coal production of the company. With induction of these Heavy Earth Moving Machines, the total mine capacity for Over Burden Removal (will increase from 138.52 Million Cubic Meter as on April 1, 2020 to 166.42 Million Cubic Meter on April 1, 2021. Capital expenditure for procurement of these Million Cubic Meter is Rs 1,457 crore.

This induction of latest technology is in addition to the huge fleet of Million Cubic Meter already available with SECL. On April 1, SECL had 438 dumpers, 156 dozers, 112 drills, 81 shovels and four draglines. The new machines are in addition to this existing fleet.

Source : STRATEGIC RESEARCH INSTITUTE

voda 28 augustus 2020 15:47

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Teck Resources & Westshore Terminals Ink Coking Coal Shipment Pact

Teck Resources Limited has signed a non-binding term sheet reflecting an agreement in principle with Westshore Terminals Limited Partnership on proposed terms for the shipment of steelmaking coal following expiry of the current contract on March 31, 2021. The proposed agreement will provide for the shipment of between 5 and 7 million tonnes annually at fixed loading charges. The 5 to 7 million tonne range will apply for the 9 months from April - December 2021 and for each 12 month period of January - December in subsequent years until the contract volume is concluded. Teck will ship 32.25 million tonnes under the agreement.

The proposed agreement with Westshore complements upgrades underway at Neptune Terminals and capacity at Ridley Terminals. Together, these will provide greater flexibility and optionality for Teck shipments and contribute to reduced costs and improved performance and reliability throughout the company’s steelmaking coal supply chain.

The proposed agreement is subject to definitive documentation, and the financial terms of the agreement will not be made public.

Source : STRATEGIC RESEARCH INSTITUTE

voda 28 augustus 2020 15:48

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Lower Prices Impact Earnings of Whiteheaven Coal in FY20

Whitehaven Coal Managing Director and CEO Paul Flynn said “Significant contraction in coal prices disproportionately impacted our headline financial results but it was pleasing to be able to reward investors and pay out AUD 312 million in dividends through the period.”

Highlights

Underlying net profit after tax of AUD 30.0 million, a decrease of 95%

Underlying EBITDA of AUD 306.0 million, a decrease of 71%

FY20 earnings reflect the softening of gC Newcastle thermal prices and the impact on ROM production of previously reported labour shortages and dust events at our largest mine, Maules Creek, and the scheduled eight week Narrabri mine longwall move

Equity ROM coal production for FY20 was 16.5 million tonnes, 4% below the previous corresponding period, reflecting the eight week Narrabri longwall change out, the challenging production conditions at Maules Creek due to labour shortages and disruption due to drought and bushfires, and the impact of unmapped historical underground workings at Werris Creek

Equity coal sales, including purchased coal, were 16.6 million tonnes, in line with the pcp.

Equity metallurgical coal sales were 17% of total FY20 sales, below pcp at 21%.

On 2 January 2020, Whitehaven announced it had completed the acquisition of EDF Trading Australia Pty Limited, which owned a 7.5% interest in the Narrabri underground mine. Closing the acquisition brings Whitehaven’s ownership interest in the mine to 77.5%, effective as of 1 July 2019.

On 12 August, the NSW Independent Planning Commission approved the Vickery Extension Project. The Vickery Extension Project is a proposed open cut mine with a 20-year mine life in the Gunnedah Basin with marketable reserves of 178 million tonnes. The mine will produce a majority metallurgical coal for steel-making, with the balance being high quality thermal coal destined for premium export markets in our region.

Source : STRATEGIC RESEARCH INSTITUTE

voda 28 augustus 2020 15:49

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Shakhtersk Coal Seaport Loaded 100th Bulk Carrier

Since the opening of the navigation season, the Shakhtersk Coal Seaport, which is part of the Eastern Mining Company, has shipped its 100th coal bulk carrier. The jubilee vessel MV GLORIEVER with 63 thousand tons of coal on board, mined at the Solntsevo coal mine, went to consumers in China. In the 2020 season, the volume of coal products shipped to Panamax vessels amounted to almost 80% of the total.

The planned total volume of loading on ships in August 2020 will be more than 1.8 million tons. In just a month, it is planned to handle 28 vessels in the sea coal port of Shakhtersk,

The main infrastructure of the Shakhtersk Sea Coal Port is spacious storage facilities, a modern onshore transshipment complex with a capacity of 10 thousand tons per hour, a fleet of 29 ships and 2 floating transshipment complexes with a total deadweight of 80 thousand tons with a total loading speed of 6 thousand tons per hour.

Source : STRATEGIC RESEARCH INSTITUTE

voda 28 augustus 2020 15:49

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SBI Planning to Fund Commercial Coal Miners – Report

While banks globally are stepping up against funding coal mining & coal based power plants, according to a report in Business Standard India’s largest state owned State Bank of India is creating a policy to lend to coal miners before landmark auctions. A person with knowledge of the matter told Business Standard “The planned policy suggests SBI is open to providing some of the financing required to put 41 coal mines with a combined annual production capacity of 225 million tonnes into private hands.”

The person added “Long-term off take contracts assuring demand will be central to any lending decision. Bank would prefer a loan tenor closer to five years.”

SBI has flagged concerns about the sector, and Indian banks are reining in loans to corporate borrowers as the coronavirus pandemic pressures asset quality. Lenders are also wary about sustained demand for coal, which is seen globally as a dirty fuel but is still the biggest source for electricity generation in India.

Source : STRATEGIC RESEARCH INSTITUTE

voda 28 augustus 2020 16:41

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NTPC to Bring Down Cost of Coal at Kudgi with New Bridge

India’s largest power generation company NTPC Ltd would be able to reduce the transportation cost of coal to fuel to its NTPC Kudgi Super thermal power station in Karnataka to around INR 200-500 per tonnes thereby bringing down the cost of electricity generation, the transit time will also be reduced by 8-15 hours. The newly constructed 670 meter longest bridge in South Western railway is beneficial to NTPC Kudgi as it helps in reducing the cost of generation of electricity and it also helps the railways by handling more material with the available infrastructure. Besides, with the availability of double lines, travel time from Sholapur in Maharashtra to Gadag in Karnataka will be reduced, saving time for the passengers.

NTPC has provided assistance on doubling of the lines on the existing tracks from Hotgi, Maharashtra to Kudgi, Karnataka (134 Kms) and provided support in the construction of two bridges on the river Bhima.

Currently, a bridge of more than 50-years restricts haulage of heavy loaded goods, whereby most of the traffic is being diverted through the Guntakal to Bellary-Gadag route.

NTPC is awaiting for the final approval from the South Western Railway and will start the operations as soon as it gets clearance.

Source : STRATEGIC RESEARCH INSTITUTE

voda 1 september 2020 13:59

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Yancoal Reports Strong Results for H1 of 2020

Yancoal is on track for approximately 38 million tonnes of attributable saleable coal production in 2020 with 19.0 million tonnes of attributable saleable coal in H1 of 2020 up by 7% YoY. This includes the benefit of the additional 10% stake in Moolarben.

Highlights
A$60/t operating cash costs, -3% YoY
A$94/t average sale price, -24% YoY
2020 unit cost target revised to A$60/tonne compared to A$61/tonne previously.

Yancoal Australia Ltd is operating five mines and managing five others across New South Wales, Queensland and Western Australia, Yancoal also has a approximately 50% share in the Middlemount joint venture. Yancoal currently employs around 4,000 people, sourcing the majority of its people from the local communities in which it operates. Yancoal’s New South Wales region includes the mines of Moolarben, Hunter Valley Operations, Mount Thorley Warkworth and Stratford Duralie, with the Queensland region comprising of Yarrabee and the Middlemount Joint Venture. Listed on the Australian Securities Exchange, Yancoal also manages the Cameby Downs and Premier coal mines in Queensland and Western Australia respectively, on behalf of its majority shareholder Yanzhou Coal Mining Company Limited (Yanzhou) and the Ashton, Austar and Donaldson underground mines in New South Wales on behalf of Watagan Mining Company Pty Ltd (Watagan).

Yancoal produced approximately 32.9 million tonnes of saleable (attributable basis) thermal and metallurgical coal in 2018 for export into international markets.

Source : STRATEGIC RESEARCH INSTITUTE

voda 1 september 2020 14:00

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US EPA Relaxes Rules for Toxic Waste from Coal Plants

The Trump administration on Monday relaxed strict Obama-era standards for how coal-fired power plants dispose of wastewater laced with dangerous pollutants like lead, selenium and arsenic, move environmental groups said would leave rivers and streams vulnerable to toxic contamination. The Environmental Protection Agency regulation scaled back the types of wastewater treatment technologies that utilities must install to protect rivers and other waterways. It also pushed back compliance dates and exempted some power plants from taking any action at all.

The change is one of several the Trump administration has pushed to try to rescue a coal industry in steep decline, extending the life of aging coal-fired power plants and trying to make them more competitive with cheaper natural gas and renewable energy. The move came days after President Trump’s son Eric described his father as a champion of coal miners who will fight for you.

Source : STRATEGIC RESEARCH INSTITUTE

voda 1 september 2020 14:13

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Colombia Coal Mine Cerrejon Workers Union Sintracarbon on Strike

Reuters reported that the largest workers union Sintracarbon at the Colombian coal mine Cerrejon walked out on strike on Monday, after 99% of its members voted overwhelmingly to support the move following a collapse in contract negotiations. Union said “Despite the union's efforts to reach a negotiated agreement, we have determined to start the strike today from 03:15 in the afternoon. Cerrejon's arrogant and imperative attitude caused the failure of the meeting of today despite the mediation of the labor ministry. It wants resolution not just to contract negotiations but to a disagreement over a new work schedule it calls the death shift."

Cerrejon, owned equally by BHP Group, Anglo American and Glencore, said in a statement it has a plan in place to manage the strike. Cerrejon vice president Juan Carlos Consuegra said "In view of the strike announced by the union, we at Cerrejon have already implemented a contingency plan to protect our assets while operations shut down."

Sintracarbon had demanded a 6% salary increase in addition to health, education and housing benefits. Cerrejon offered an increase equal to inflation for 2020 and 2021. Colombia had 3.80% inflation in 2019. The central bank expects inflation to end this year between 1% and 2%.

Cerrejon employs more than 5,500 workers, including 4,600 union members. The last strike at Cerrejon in February 2013 lasted 32 days.

Source : STRATEGIC RESEARCH INSTITUTE

voda 1 september 2020 14:14

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South32 Dendrobium Mine Coal Sludge Discharge Reinforces Concerns

ABC reported that concern over a pollution incident that saw black sludge wash down a suburban creek in the centre of suburban Wollongong has raised wider concerns about the transparency around mining. Three weeks after sludge spilt from the Dendrobium coal mine into a suburban creek questions remain over what substances and how much was released. There are also calls for details on how the clean-up operation was carried out. The incident raises broader concerns about the transparency of South32's operations as they apply to open new longwalls in the special water catchment area. Not satisfied with answers provided in the last three weeks since the spill occurred, with neither South32 or the NSW Environmental Protection Agency providing media interviews, Wollongong Greens councillor Cath Blakey is calling for clear answers.

On August 8 and 9 heavy rainfall caused pockets of flooding around the Illawarra. But at the Dendrobium coal mine, owned by South32 and located at Mount Kembla, the heavy rain led to a release of water from the sediment pond containing fine coal particles

Source : STRATEGIC RESEARCH INSTITUTE

voda 1 september 2020 14:14

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India Plans Gasification of 100 Million Tonne Coal by 2020

PTI reported that India’s target to gasify 100 million tonnes of coal by 2030 will entail an investment of over INR 4 lakh crore. India’s Coal Minister Mr Pralhad Joshi said “Coal gasification and liquefaction is no more an aspiration, but a requirement. For encouraging use of clean sources of fuel, government has provided for a concession of 20 per cent on revenue share of coal used for gasification. This will boost production of synthetic natural gas, energy fuel, urea for fertilisers and production of other chemicals.”

This 100 million tonnes coal gasification will happen in three phases. In the first phase, from 2020-2024, 4 million tonnes (of coal will be gasified and around INR 20,000 crore will be invested for the same.In the second phase, from 2020-2026, 6 million tonnes of coal will be gasified which will involve an investment of INR 30,000 crore. In the third phase, from 2022-2030, 90 million tonnes of coal will be gasified and INR 3.6 lakh crore will be invested for the same.

A steering committee has been constituted in this regard under the chairmanship of V K Saraswat, member, NITI Aayog and comprising officials from the coal ministry.

Coal gasification is the process of producing syngas, a mixture consisting mainly of carbon monoxide, hydrogen, carbon dioxide, natural gas and water vapour, from coal.

Source : STRATEGIC RESEARCH INSTITUTE

voda 1 september 2020 14:15

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Supreme Court Orders Adani Abbot Point Terminal to pay AUD 107 Million

Australian Financial Review reported that Adani has been ordered to pay a total of more than AUD 100 million to four coal companies over a contractual dispute over access charges and terminal handling for Adani's Abbot Point coal terminal in North Queensland. In a judgment released by the Supreme Court in Brisbane, Justice Jean Dalton awarded the four companies a total of AUD 106.8 million saying Adani had not offered reasonable charges for access to the port between July 2017 and July 2018. Lake Vermont is awarded AUD 37.6 million, QCoal was awarded AUD 25.3 million, Byerwen Coal was awarded AUD 31.7 million and Sonoma Mine was awarded AUD 11.9 million. The companies claimed Adani had engaged in unconscionable conduct in charging them more than their user agreements. Arbitration between the parties had failed.

Adani spokeswoman said "The decision concerns a dispute between the company and four of its commercial customers relating to terminal handling and access changes at the Abbot Point port. Whilst respecting the judgment of the Supreme Court, the matters in dispute between the parties are complex and Adani Abbot Point Terminal in conjunction with its legal advisers will review her honour's reasons and consider the company's right of appeal."

Adani bought the Abbot Point coal terminal off the Queensland government in June 2011. The port, near Bowen, will be the export terminal for Adani's scaled-back AUD 2 billion Carmichael mine in the Galilee Basin. The first load of coal from the mine is due to be shipped out of Abbot Point next year. But a growing number of major lenders have ruled out lending to the project.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:52

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BHP's Queensland Coal Mines to Reduce Emissions from Electricity Use by 50%

BHP has signed a firm renewable power purchasing agreement to meet half of its electricity needs across its Queensland Coal mines from low emissions sources, including solar and wind. The agreement will help BHP reduce emissions from electricity use in its Queensland operations by 50 per cent by 2025, based on FY2020 levels. The agreement, with Queensland’s state-owned clean energy generator and retailer CleanCo, will run for five years from 1 January 2021. This will effectively displace an estimated 1.7 million tonnes of CO2e between 2021 and 2025, equivalent to the annual emissions of around 400,000 combustion engine cars.

The agreement is the first of its kind signed by BHP in Australia and follows the company’s shift to 100 per cent renewables in its Chilean operations at Escondida and Spence from the mid-2020s. It will also support the development of new solar and wind farms in Queensland – the Western Downs Green Power Hub due for completion in late 2022, and Karara Wind Farm due for completion in early 2023.

Over the five-year agreement, power will be provided via the grid, and predominantly contracted from a combination of solar, wind, hydro and gas generation. For the first two years, power will be contracted from CleanCo’s low emissions portfolio which includes hydro and gas generation assets. From late 2022, the newly operational solar and wind farms are expected to progressively contribute up to half the electricity requirements, with the remainder supported by CleanCo’s low emissions portfolio. Combined with large-scale generation certificates, this will enable BHP to reduce Scope 2 emissions from its Queensland operations by 50 per cent by 2025, based on FY2020 levels.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:54

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CIL Reports 7% YoY Growth in Coal Production in August

India has registered a 7.1 per cent growth in coal output at 37.17 million tonnes in August 2020 compared to the year-ago period while coal off-take increased 9.3 per cent last month to 44.34 million tonnes as compared to the same period a year ago. CIL said "The growth slowdown is contained and going forward in the ensuing months of the fiscal, we endeavour to maintain our production and off-take tempo.”

Mahanadi Coalfields Ltd clocked a robust 40.4 per cent growth while Bharat Coking Coal Ltd and South Eastern Coalfields recorded 10.4 per cent and 7.6 per cent growth, respectively.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:54

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Indian Coal Imports in August Remain Low

Reuters, citing Refinitiv vessel-tracking and port data, reported that after posting a mild recovery in July, India’s coal imports have stumbled in August 2020 to around 12.2 million tonnes as India battles to restart its economy amid the ongoing coronavirus pandemic. The data includes seven ships that were discharging cargoes as of the last day of August, meaning there are likely to be minor revisions depending on whether these cargoes are assessed as having cleared in August or September. Nonetheless, it appears the imports in August won’t match July’s 12.7 million tonnes, the strongest in three months.

India’s coal imports were hit hard by the economic lockdowns imposed from March onwards to combat the spread of the novel coronavirus in the world’s second-most populous nation and second-biggest coal importer. For the first eight months of the year, based on the estimated August volume, India’s imports of 112.96 million tonnes were 18.9% below the level for the same period last year.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:55

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Mr PM Prasad is New CMD of CIL CCL

Mr PM Prasad took charge as the new Chairman cum Managing Director of Central Coalfields Limited. Prior to this, Mr Prasad was working as CMD, Bharat Coking Coal Limited Dhanbad. Outgoing CCL CMD Mr Gopal Singh took over the charge of CMD, BCCL as per the directive. Mr Prasad finished his graduation in BE (Mining) from Osmania University in 1984 and joined Coal India Limited. He did M Tech in open-cast mining from Indian school of mines, Dhanbad in 1991.

Mr Prasad started his career with Western Coalfields Limited and later became the General Manager at Mahanadi Coalfields Limited. As the General Manager of Lingaraj area, he was responsible for the successful commencement of operations at Kaniha opencast coal project and the railway siding at Talchar Coalfields. After a successful three-decade stint at Coal India Limited, Prasad joined NTPC as Executive Director (Coal Mining). He was instrumental in commencing of Coal production at Pakribarwadih coal block, Hazaribagh. He held consultations and discussions with the various stakeholders and resolved issues with the project-affected people, public representatives and district administration. Prasad returned to the Coal India family in February, 2018 assuming the charge of Director (T) P and P, Northern Coalfields Limited. During his term at NCL he looked after the operations of the five areas of NCL along with the responsibility of vital departments like Corporate Planning, Environment and Forest, civil engineering, Railway Siding and others. Prasad took charge as the CMD BCCL, the Country’s largest coking coal producer in August 2019. Under his leadership, BCC L took various steps for augmenting the coal production and upgrading the infrastructure.

Source : STRATEGIC RESEARCH INSTITUTE

voda 3 september 2020 12:43

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Indonesian Coal Benchmark Price HBA for September Slips below USD 50 Mark

Reuters reported that Indonesia’s Energy and Mineral Resources Ministry has set its coal benchmark price HBA at USD 49.42 per tonne for September 2020, down from USD 50.34 per tonne in August 2020, lowest level on record amid subdued demand from big buyers, while global oversupply of coal was worsening. September marked a sixth consecutive month of decline in the benchmark price, which is used in spot trading in Indonesia, the world’s top thermal coal exporter. Energy ministry spokesman Mr Agus Pribadi said “COVID-19 has resulted in a 20% drop in coal imports by China and demand from India is yet to recover post-lockdown.”

Indonesia Coal Miners Association Executive Director Mr Hendra Sinadia said “Coal miners everywhere are in survival mode, as the global coal oversupply situation worsens. A global demand correction due to the coronavirus pandemic is expected at around 100 million tonnes, while output levels of the world’s biggest suppliers are not coming down significantly. On the supply side, production in Indonesia, as well as other suppliers such as Russian and Australia, is running relatively normally.”

ICMA estimated that Indonesia’s coal output in January-July was 323 million tonnes, or around 59% of the government’s 550 million tonnes target.

Source : STRATEGIC RESEARCH INSTITUTE

AEX 911,51 +0,92 +0,10% 15:32


Germany40^	18.711,50	-0,33%
BEL 20	3.975,99	-0,93%
Europe50^	5.069,35	-0,31%
US30^	39.606,40	+0,25%
Nasd100^	18.237,30	+0,44%
US500^	5.237,93	+0,31%
Japan225^	38.093,20	-0,25%
Gold spot	2.347,44	-0,56%
EUR/USD	1,0806	+0,32%
WTI	78,85	+0,73%

Air France-KLM	+2,80%
Philips Konin...	+2,41%
Alfen N.V.	+1,76%
Akzo Nobel	+1,68%
EBUSCO HOLDING	+1,54%

VIVORYON THER...	-3,77%
FASTNED	-2,36%
RENEWI	-1,70%
Flow Traders	-1,50%
Avantium	-1,47%

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