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voda 22 januari 2019 20:11

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Meghalaya issues modified coal transportation order

IANS reported that Meghalaya government has issued a modified order allowing transportation of coal in transit through the state, before a Supreme Court hearing on the issue. The order issued by Tining Dkhar, Commissioner and Secretary of Mining and Geology, allows transportation of coal that "originates outside the state of Meghalaya and being transported through the state for consumption by factories, general households or export".

Mr Dkhar told IANS that "We have allowed transportation of coal loaded from the sites and in transit before the order of the Supreme Court.”

The apex court on Tuesday banned the transportation of coal in Meghalaya till the next hearing fixed on February 19 for its failure to curb illegal mining in the state.

Thirty-three tranded Bhutanese coal-laden trucks at the Dawki Integrated Check Post (ICP) in the West Jaintia Hills district, were also allowed to transit to Bangladesh on Saturday.

A Customs official told IANS that "For the time being, we have permitted the transit of foreign origin coal to Bangladesh through the Dawki ICP following the amended notification of the Meghalaya government.”

Source : IANS

voda 22 januari 2019 20:12

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Coal imports swell 6.7% to 172 million tonne in April-December

Money Control coal imports in India saw a surge of 6.7 percent to 171.81 million tonne in the April-December period of the ongoing financial year. This comes at a time when the government is mulling relaxing the timeline for achieving the 1 billion tonne coal production target for Coal India.

Coal imports stood at 161 million tonne in the April-December period of 2017-18, as per the report by mjunction services. It said that import of coal in December however declined 8.09 percent to 17.25 million tonne from 18.77 million tonne in the year-ago month.

Commenting on this trend, mjunction Managing Director and CEO Vinaya Varma said that "The demand for imported coal waned, to some extent, due to higher despatch to power plants by domestic miners." He added that with the coal stock situation improving in the power sector and production increasing in the fourth quarter, import demand is likely to remain subdued as compared to previous months.

Of the total imports during December last year, non-coking coal was at 12.52 million tonne as compared to 13.01 million tonne imported in November 2018.

Coking coal imports were at 3.72 million tonne in December 2018, down from 3.75 million tonne imported a month ago.

According to a provisional compilation by mjunction based on monitoring of vessels' positions and data received from shipping companies, "India's coal....imports during December 2018 through 31 major and non-major ports are estimated to have declined 3.88 percent over November 2018.”

Source : Money Control

voda 22 januari 2019 20:13

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Centre seeks report from CIL, NLC as coal projects face delays

Business Line reported that concerned about coal projects worth over INR 11,000 crore facing delays, the Centre has asked Coal India and NLC India Ltd to identify the reasons behind it and submit a report. The matter came up during a recent meeting to review projects worth INR 35,000 crore at a time when India is witnessing significant amount of coal imports.

A Coal Ministry official said that “At a recent meeting to review coal projects costing more than Rs 500 crore and 3 million tonnes, Secretary Coal Sumanta Chaudhuri sought exception report from Coal India Ltd (CIL) and NLC India and asked them to identify reasons behind delay.”

An exception report is a document stating instances where actual performance deviated significantly from expectations. The review meeting covered 51 projects of Coal India Ltd, which accounts for over 80 per cent of the domestic dry-fuel production. nine of NLCIL (formerly Neyveli Lignite Corporation) and two belonging to Singareni Collieries Company Limited.

Out of these, 21 projects are facing inordinate delays 17 by CIL and four by NLCIL, the official said. Coal India’s delayed projects include Magadh Expansion, Karo, North Urimari and Rajrappa RCE.

The delayed NLCIL projects include Pachwara South Coal Block, Talabira II and III Coal Block and Rajasthan Power Projects. The delays come against the backdrop of coal demand from power sector exceeding the supply in 2018. India has imported of over 200 million tonnes of coal annually in the recent years.

Earlier this month, Coal Minister Piyush Goyal said the country faces no shortage of coal and production has witnessed an increase of 7.4 per cent in April-December period of the ongoing fiscal. He, however, also admitted that coal production did not go up in the past because of delays in environmental clearances, land acquisition and other problems.

Mr Goyal said Coal India’s production increased by 104 million tonnes in the last four years between 2014-15 and 2017-18.

Source : Business Line

Bijlage:

voda 22 januari 2019 20:13

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Asia strong demand for Hunter Valley high quality thermal coal continues

Hunter Valley News reported that a shipment of 96 coal wagons arrived at the Port of Newcastle at the weekend to support Asia’s strong demand for the Hunter Valley’s high quality thermal coal. Group executive of Aurizon’s Coal business Ed McKeiver said the company’s customers were helping power fast growing economies in Asia and on the Indian sub-continent with high-energy, low ash coal from Australia.

He explained that “Although Japan continues to be the nation’s largest trading partner of thermal coal, importing 80 million tonnes of Australian thermal coal in the 2018 financial year (with around 80 per cent sourced from the Hunter Valley), almost 10 million tonnes was exported from Newcastle coal terminals to newer trading partners such as India, Malaysia, Philippines and Thailand during the same period.”

He added that “To support export volumes, our new wagons can carry up to 98 tonnes of coal, and with more than 80 wagons on every train, that means more than 8000 tonnes of coal can be hauled to port on each load. We continue to see strong growth in our Hunter Valley business with our coal haulage growing by 10 per cent in the past financial year, from 47.7 million tonnes in FY2017 to 52.3 million tonnes in FY2018.”

Mr McKeiver said that “When we started operating here in 2005, we had less than 10 employees and we now proudly employ more than 450 people across our Hunter Valley operations.”

Mr McKeiver said the wagons in the consignment were part of a bigger order that would see the company's coal fleet expand to almost 9000 wagons – more than a third larger than Aurizon’s closest competitor. He added that “Our confidence in the outlook for Australia’s coal export markets is driving a national growth plan across our coal business.”

He added that “While the new wagons delivered on the weekend will enter service for our Hunter Valley customers, we have also ordered additional wagons to expand our rollingstock fleet in Queensland. By increasing the number of our wagons, we can offer our customers more flexibility in their railings as well as additional capacity, which will help support the demand for Australia's high-quality coal in Asian markets.”

Source : Hunter Valley News

voda 23 januari 2019 19:43

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Coal India rides the digital wave

Financial Express reported that digital technologies are transforming our world. Enterprises are adopting data driven decision making models, while customers are communicating via mobile and social media platforms. In India too, we are seeing rapid adoption of mobile Internet, cloud technology, digital payments, digital identity, etc. Recently, Coal India announced plans to embark on its digital transformation journey, in partnership with Tech Mahindra. The IT services major signed a Rs 270 crore deal to enable digital transformation for Coal India. The engagement, which will span over five years, is aimed at enterprise modernisation.

The primary objective of setting up an integrated ERP (Enterprise Resource Planning) system in Coal India and its subsidiaries is to deploy state-of-the-art information technology system, which can provide all necessary information based on real-time data and help the management in taking quick and timely decisions to achieve desired results. Mr Anil Kumar Jha, chairman, Coal India, said that “Coal India is very passionate and committed to this project, and firmly believes that Tech Mahindra will be able to complete it well within the project timelines.”

This implementation would be taken up in phases. Phase one includes the ERP implementation in Coal India and its two subsidiaries Mahanadi Coalfields and Western Coalfields. Further, the deal also includes supply and implementation of HIMS (Hospital Information Management System) across all eight subsidiaries of Coal India, covering 21 hospitals.

Mr Sujit Baksi, president, India Business & Corporate Affairs, Tech Mahindra, said that “We will bring the depth of our digital experience into this engagement and deliver connected experience to Coal India.”

Source : Financial Express

voda 23 januari 2019 19:45

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Pairie mining continues clash with Polish environmental ministry

Alliance News reported that coal development firm Prairie Mining Ltd has continued to clash with Poland's Ministry of Environment both in and out of court. The Supreme Administrative Court fully rejected Lubelski Wegiel Bogdanka SA's complaints over the refusal of its mining application over the K-6-7 deposit, Prairie Mining said, upholding the original 2015 decision to deny Bogdanka's mining concession application.

Lubelski Wegiel Bogdanka is a Polish hard-coal manufacturer. The application was denied on the grounds that granting a concession would be a serious violation of the provisions of Poland's Geological and Mining Law 2011.

In a second ruling, the court upheld the 2016 decision obliging the government ministry to approve Prairie Mining's addendum number 3, which is a detailed resource estimate for the K-6-7 deposit in the Jan Karski Mine.

Prairie was originally granted an exclusive right to apply for the concession in July 2015 after the ministry approved its geological documentation for Jan Karski.

The company said in a statement that "The board notes that Bogdanka's claims have been consistently and vigorously rejected by the Polish courts in multiple rulings. Furthermore, the court's decision obliging the MoE to approve Addendum Number 3 demonstrates that the MoE has acted illegally and failed to correctly implement Poland's own mining laws.”

Less positively, Prairie's application to amend the 50-year mining concession over the Debinesko hard coking coal mine has been denied by the ministry. The final "second instance" decision means that the ministry could start proceedings to limit or withdraw the Debiensko concession from Prairie Mining.

Prairie said that legal advice obtained has indicated that the Ministry's decision is flawed, and "demonstrates yet further evidence of the discriminatory treatment faced by Prairie as a foreign investor in Poland".

Prairie said that "The company will consider any other actions necessary to ensure its concession rights are preserved, which may result in the company taking further action against the MoE including invoking the protection afforded to the company under any relevant bi-lateral or multi-lateral investment treaties or such other actions as the company may consider appropriate at the relevant time.”

Source : Alliance News

voda 23 januari 2019 19:46

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Navy abandons efforts to pull out Meghalaya coal miner decomposed body

Economic Times reported that Navy abandons efforts to pull out decomposed body of miner Shillong: The Indian Navy abandoned all efforts on Sunday to pull out the decomposed body of a miner that it spotted four days ago inside a coal mine in Meghalaya's East Jaintia Hills District. The Navy divers had spotted the decomposed body of a trapped miner on Wednesday, using an unmanned, remotely-operated vehicle (ROV) at a depth of around 160 feet inside the mine's main shaft.

At least 15 miners are trapped inside the mine since December 13 last year after one of them accidentally punctured the wall of the mine, leading to its flooding.

Operation spokesperson R Susngi said that "The Navy today suspended the pulling of the remains, which they had been trying since yesterday evening, as too much disintegration (of the body) took place with every pull by the ROV jaw.”

The families of four of the 15 miners had on Saturday urged the rescuers to retrieve the decomposed body so that they could perform the last rites.

A multi-agency operation, which included de-watering of the main shaft where the miners are trapped, and of the nearby mines, has failed to yield any result as the water level has not gone down.

The family members of the victims from Garo Hills have also been summoned to the site to help identify the body from the video shot underwater by the ROV earlier this week.

Source : Economic Times

voda 23 januari 2019 19:47

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National Group delivers two excavators to BHP coal mines

Australian Mining reported that National Group has started 2019 in the same way it finished a record-breaking 2018 for the company by delivering a pair of excavators into Queensland’s Bowen Basin. BHP Billiton Mitsubishi Alliance added the first of these excavators, a Hitachi EX5600, to the Peak Downs mine.

National Group also delivered five Liebherr ultra-class T 282C trucks to Peak Downs last September.

The second excavator, a Liebherr R 996B, was delivered to the Poitrel mine, part of the BHP Mitsui Coal joint venture. It is the first piece of equipment National Group has supplied to Poitrel.

National Group founder and managing director Mark Ackroyd said the delivery of the excavators contributed to an already strong relationship with BHP. Mr Ackroyd said that “We have been working with BHP for some time now, especially at Peak Downs, so to be adding more equipment there is a testament to the machines we currently have operating for them and speaks volumes of our team on-site who do a great job with maintenance when needed.”

He added that “Poitrel on the other hand, we are very excited to be adding our first piece of equipment there and for it to be the ever reliable Liebherr 996 digger. We’re confident they are going to love this machine and hope it is just the beginning of things to come.”

National Group used its unique capabilities to handle all transport – assembly and delivery – to overcome the complex process of bringing the equipment to Australia.

Mr Ackroyd said National Group knew how difficult it could be to get the bigger gear to Australia first of all, let alone having to worry about everything else once it arrived. He said that “That is why we have worked very hard to build brands that complement each other in the entire journey of port-to-pit.”

Source : Australian Mining

voda 23 januari 2019 19:49

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Wallarah 2 coal mine's impacts on the Central Coast's water supply can be managed

The Herald reported that a controversial central coast underground coal mine proposal can be managed to minimise impacts on the region’s water supply, said Environment Minister Melissa Price after approving the Wallarah 2 mine in a decision objectors say will cost the Federal Government a vital seat. Australian Coal Alliance spokesperson Mike Campbell after Ms Price signed off on one of the final hurdles facing the mine, after more than two decades of community opposition said that “You can almost kiss the seat of Robertson goodbye with this one. This will backfire on the Federal Government.”

Ms Price accepted Federal Department of Environment advice that the impacts on water and threatened species and communities could be monitored and managed.

Under the Environment Protection and Biodiversity Conservation Act assessment and approval Wallarah 2’s owner Kores, owned by the South Korean Government and Korean and Japanese mining interests, is required to prepare a trigger action response plan to identify early warning, mitigation and cease work triggers for affected watercourses, water supply and biodiversity measures.

Kores is also required to prepare a groundwater management plan and separate Central Coast water supply arrangement management plan that calculates the loss of water from Wyong River and other water sources caused by mining in the water catchment area.

Source : The Herald

voda 23 januari 2019 19:50

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China raw coal output in 2018 up by 5.2pct

Xinhua reported that China's raw coal output registered stable growth in 2018 amid government efforts to cut outdated capacity and encourage high-quality capacity. China’s National Bureau of Statistics said in a statement that China produced 3.55 billion tonnes of raw coal last year, up 5.2 percent year on year.

The growth pace was 2 percentage points faster than that in 2017. In December, China's raw coal output totalled 320 million tonnes, up 2.1 percent year on year.

Source : Xinhua

voda 23 januari 2019 19:52

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India coal import in 2017-18 up despite Modi govt promised to end coal imports

The Print in reported that just about three months before the Lok Sabha elections, the NDA government finds itself with little reason to cheer when it comes to the coal sector. Coal accounts for 70 per cent of the power generated in India, and Narendra Modi’s administration had promised to end coal imports by 2016 by increasing domestic supply. The announcement was made in 2014 by Piyush Goyal, the then-Minister of State with Independent Charge for coal. But in 2017-18, India imported 208 million tonnes of coal, higher than the 191 million tonnes imported in 2016-17. The coal import bill also went up to USD 22,901.23 million (approx INR 1.63 lakh crore) in 2017-18 from USD 15,759.93 million (INR 1.1 lakh crore) the previous year.

The figures are still rising in 2018-19. In the April to December period, the quantity of coal imported stands at 171.81 million tonnes compared to 161 million tonnes in the corresponding period last year, to a PTI report quoting Mjunction Services, a B2B e-commerce joint venture by Tata Steel and SAIL. The April-November coal import bill has risen by 23 per cent over the corresponding period last year — USD 17,555.75 million (approx. INR 1.25 lakh crore) compared to USD 14,271.30 million (INR 1.01 lakh crore).

One of the Modi government’s top priorities when it took charge was to announce e-auction of coal blocks. But that exercise has not managed to generate any significant response.

India is the world’s fourth largest coal producer but continues to face a huge shortage in its supply, primarily due to faulty mining policy and the cancellation of coal block allocations in 2014, following the Comptroller and Auditor General’s (CAG) report.

On 20 February 2018, the government decided to throw open the sector to private participation, which was touted as a historic move that reversed the nationalisation of the sector under Indira Gandhi in 1973. The Cabinet Committee on Economic Affairs approved the methodology for the auction of coal mines and coal blocks.

The move was aimed at boosting healthy competition, increasing supply, thereby reducing imports and ending the monopoly of Coal India Ltd. But, 11 months on, the proposal is still on the drawing board.

An industry analyst said that “It’s time the government walked the talk and opened up commercial coal mining to the private sector. This will not only attract global coal mining majors, but will also bring new technology and best practices to a sector that has been a public sector monopoly. If the process is started now, India will have self-sufficiency in coal in the next decade.”

Besides power generation, coal is a critical resource for steel and cement production, among other things. A shortage of coal, therefore, has huge ramifications for the economy.

Another analyst told ThePrint that “Now, with a combination of higher global coal prices, higher imports and a depreciated rupee, the coal import bill in the current financial year is likely to surpass last fiscal’s bill by a wide margin.”

The Reserve Bank of India has already raised concern over the impact of coal imports on the current account deficit.

Source : The Print in

voda 23 januari 2019 19:53

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‘We’re not going anywhere’, say locked-out Port Kembla Coal Terminal workers

Illawarramercury reported that company claim that Port Kembla Coal Loader employees won’t be sacked and replaced by contract labour is an “absolute smokescreen”, according to a union official. The PKCT locked out workers on Saturday morning for seven days in the latest step in negotiations for a new enterprise agreement that have been going on for almost five years.

Workers have set up picket line outside the coal terminal entry and CFMEU district vice president Bob Timbs said they would stay there for the duration of the lockout.

Mr Timbs said that “It’s early days for us, we’re in for the long haul. We’ll stay here and do what we need to do. It’s a question for the company as to whether they’re going to extend the lockout or not.”

Mr Timbs said the main sticking point was PKCT’s wish to remove a clause protecting workers from being sacked and replaced by contract labour. He pointed to leaked documents showing legal advice sought by PKCT over plans to replace “PKCT employees with South32 ‘regional hub’ employees”.

The advice was that such a move would contravene the very clause PKCT is seeking to remove.

Mr Timbs said this showed PKCT’s intent. He said that “If they’ve got no intention of replacing the workforce with contractors, great news. Then let us maintain the clause, shake hands and move on.”

Mr Timbs also claimed there was contract labour working in the terminal during the lockout.

PKCT was contacted for comment. A spokesman said over the weekend it would continue “providing above award conditions to its permanent workforce”.

Source : Illawarramercury

voda 23 januari 2019 19:54

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Yancoal targets NSW growth following record year

Australian Mining reported that Chinese controlled Yancoal plans to ramp up optimisation and exploration work at its Tier 1 assets in New South Wales to meet rising consumer demand for high-quality coal. Yancoal achieved record coal production during 2018 and has set ambitious growth targets to maximise this output even further. This includes a potential six million tonnes a year underground development at Mount Thorley Warkworth in the Hunter Valley, which completed pre-feasibility seam drilling at the end of last year.

Yancoal has cited “long-term demand” for thermal and metallurgical coal driven by South East Asian population growth and urbanisation as key factors for a strong coal outlook it plans to capitalise on.

Chief executive officer Reinhold Schmidt, in the company’s latest quarterly release, said maximising production from the company’s underground and open cut mines had allowed it to meet increasing demand for “higher quality” thermal coal. He said that “We also benefitted from a full quarter’s impact of new fleet maintenance practices at Mount Thorley Warkworth, successfully reducing truck down-times and interruptions to extraction and haulage rates, while simultaneously delivering opeational cost savings.”

Mr Schmidt said that “Similar maintenance reviews are ongoing across Yancoal’s other open cut mines, including the Tier 1 joint venture Hunter Valley Operations mine, as the business continues to establish new operating protocols and efficiencies to drive future production gains.”

Demand for higher quality coal with low ash and low sulphur content is being driven by environmental policy in “established markets” such as Japan, South Korea, China and Taiwan.

Yancoal posted 50 million tonnes of saleable coal production in 2018, a 59 per cent boost on the previous year

Source : Australian Mining

voda 24 januari 2019 20:30

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Two dead as illegal coal mine caves in Jharkhand

Indian Express reported that at least two people, engaged in illegal mining, allegedly died at Kapasara mines under Nirsa Police Station in Dhanbad. Several others are still feared to be trapped after the mine caved in during the hours of Wednesday. Dhanbad SP Kaushal Kisore said that "One dead body has been recovered so far from the debris of the coal mine which caved in early in the morning on Wednesday.” He, however, couldn't give the exact number of people trapped or killed under the debris.

A rescue operation had been launched to extricate the trapped persons, he further said. "Exact casualty figures could be available only after the debris is removed," said the SP.

Locals said that the accident occurred when around 15-20 workers entered the mine through several holes that had been dug to illegally extract coal from the area. They claimed that at least two people have died, while casualty may rise with the time.

Source : Indian Express

voda 24 januari 2019 20:32

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Strong performance of BHP South Walker Creek mine

Mining Monthly reported that a strong performance by BHP’s South Walker Creek mine in Queensland helped lift metallurgical coal production performance for the company in the December quarter, however, higher strip ratios at its New South Wales operations caused its energy coal production levels to drop.

Metallurgical coal production increased 2% for the first half of the financial year to 21 million tonnes.

At Queensland Coal, increased production was supported by record production at South Walker Creek and higher wash-plant throughput at Poitrel following the purchase of the Red Mountain processing facility.

This increase was partially offset by the scheduled longwall move at Broadmeadow, which was completed during the quarter.

The Caval Ridge Southern Circuit project went according to plan with first coal conveyed in October.

Guidance for the 2019 financial year remains unchanged at between 43 million tonnes and 46million tonnes , with volumes weighted to the second half of the year as expected.

Energy coal production decreased 5% to 13 million tonnes for the first half.

New South Wales Energy Coal production decreased 4% due to a higher average strip ratio.

Cerrejón production decreased 7% due to mine sequence changes.

Energy coal guidance for the 2019 financial year remains unchanged at approximately 28 million tonnes to 29 million tonnes.

Source : Mining Monthly

voda 24 januari 2019 20:33

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Singapore GEAR fails to win bid for Stanmore Coal

Reuters reported that Singapore's Golden Investments said that it will seek a board position at Australia's Stanmore Coal Ltd as its biggest shareholder, despite the failure of a AUD 240 million (USD 171 million) takeover bid.

Golden Investments, which bought a 19.9 percent stake in Stanmore Coal in November and launched a full takeover bid at AUD 0.95 a share, said it held 25.5 percent of the Australian firm following the closure of its bid on Tuesday.

The company, majority owned by Golden Energy and Resources , was attracted by Stanmore's Australian jurisdiction, high grade coking coal deposits and existing infrastructure, but its bid fell well short of an independent expert's valuation.

Source : Reuters

voda 24 januari 2019 20:33

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Bankrupt coal firm seeks sale of Wyoming coal mine by February's end

KPVI reported that Westmoreland Coal Company is seeking permission to sell its Kemmerer mine by the end of February, according to a filing Friday in the Houston Bankruptcy court. Westmoreland filed for bankruptcy in October with USD 1.1 billion in debt, citing debt and the increasingly difficult market for thermal coal in the United States. It has come under fire from current and former miners in Wyoming during the bankruptcy proceedings for attempting to cut retiree benefits and end its contract with union miners at the Lincoln County mine. The Wyoming miners are represented by the United Mine Workers of America.

The company justified its requests to erase those liabilities in a recent filing in court, arguing that parties interested in buying the Kemmerer mine made it clear that they would not buy with the union contract in place.

The request on Friday, for approval of a sale schedule, is the first to explain the proposed process for the sale of Westmoreland Wyoming assets. The company said it has been negotiating with potential buyers and that it will designate a stalking horse bidder by Feb. 7. In laying out a schedule for a bidding process, the company hopes to pressure potential buyers to make more competitive bids, the company’s lawyers explained in the court documents. If the company receives more than two bids, including the stalking horse, for the Kemmerer mine, it will hold an auction Feb. 19. The sale hearing will take place Feb. 28.

A call to the company’s Denver headquarters was not returned. A call to a Westmoreland lawyer was not returned.

The Kemmerer mine employed 296 miners in Lincoln County as of September. The mine provides coal for PacifiCorp’s nearby Naughton Power plant. PacifiCorp protested Westmoreland’s’ original bankruptcy plan, arguing that the ambiguities over ownership and operation of the mine risked utility customers that rely on the power from Naughton. Kemmerer also provides fuel for local industries like trona.

The mine is a significant driver for both employment and local tax income in Lincoln County and the town of roughly 2,700 people.

Source : KPVI

voda 24 januari 2019 20:35

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Six miners killed in Dukki coal mine collapse

Dunya News reported that at least six coal miners were killed when portion of a coal mine collapsed due to gas explosion in Balochistan s Dukki district on Monday. According to details, four miners working in the coal mine were trapped after an explosion caused due to accumulation of gas in the mine. Other miners present at the site started rescue operation on their own as a result two other miners died and 19 fell unconscious due to presence of poisonous gas in the mine.

The rescue operation lasted for 19 hours after which bodies of six dead and 19 unconscious miners were recovered and shifted to hospital.

Source : Dunya News

voda 24 januari 2019 20:38

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Universal Coal to achieve annualised output of 8.5 million tonnes

UNIVERSAL Coal, the Australian-listed coal producer that operates in South Africa’s Mpumalanga province, expected to achieve annualised coal production of 8.5 million tonnes by the time it closed off its year-end on June 30. The company, which is a takeover target of private equity firm, Ata Resources, said the improvement in production was attributable to the first major contribution of North Block Complex, an asset it bought from Exxaro Resources.

Initial production was also due before the year-end from developmental asset, Ubuntu (formerly known as its Brakfontein project). The medium-term goal was to reach annual production of 10Mt/y whilst continuing to pay dividends.

Universal Coal paid a 0.01 Australian cents dividend at the close of 2018 taking the total payout for the year to 0.02c/share. This was off the back of pre-tax earnings of AUD 30.5 million of which AUD 17 million was attributable for the December quarter, an increase of 53% on the September quarter. The company expected to report normalised pre-tax earnings of AUD 51 million for the first half of the financial year, and full-year earnings of AUD 93 million.

Mr Tony Weber, CEO of Universal Coal said that “Universal will continue to concentrate its efforts on increasing shareholder value through production growth from the inclusion of the Eloff Project to the Kangala life of mine, delivering the Brakfontein (Ubuntu) project, to achieve our 10Mt/y targeted production, whilst continuing to distribute dividends.”

He added that “We continue to engage actively with Ata Resources in relation to the announced NBO and look forward to updating shareholders as appropriate.”

The company said in December that the outcome of the unsolicited Ata Resources bid was expected by the middle of this month after it had retained advisors to assess the fairness of a 35 Australian cents per share offer lodged in September.

Universal Coal also said it had agreed with Ata Resources not to solicit a rival bid so as to remove the prospect of introducing competitive tension and push up the offer price. In addition, Universal Coal agreed to make known any third party offer that could materialise for the firm in the interim. This suggests that barring any questions regarding the offer, Universal Coal intends to support it.

Source : Mining MX

voda 24 januari 2019 20:39

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Germany set to import 45m tonnes of coal

Energy Reporters reported that Germany is forecast to import 45 million tonnes of environmentally damaging hard coal during 2019, an increase of around 1.4 per cent from last year, as the closure of German mines reduces supplies. The coal lobby group VDKI said that Imports would make up 30 million tonnes for power generation and 15 million tonnes of coking coal for steel manufacturing.

Germany announced plans to close all its nuclear power sector in the wake of the 2011 Fukushima disaster in Japan, increasing pressure on its existing coal sector.

Germany’s final two hard-coal mines, both in the west of the country, closed last year under a programme to end mine subsidies in favour of imports. The two mines provided around 2.6 million tonnes of coal per year.

Demand for coking coal from the German steel industry was forecast to rise slightly to 15 million tonnes this year, the VDKI said, mainly due to the closure of the final coal mines in Germany at the end of 2018.

A court ban on logging ancient Hambach forest (pictured) would prevent the mining of the even dirtier lignite, or brown coal, by German utility RWE.

In October, the VDKI predicted an annual 4 million tonne demand increase for coal as a result of the Hambach restrictions.

The court’s ruling blocks supplies to RWE’s brown-coal power plants, and hard coal could fill some of the deficit for the most polluting fossil fuel.

Hard coal and lignite accounted for a combined 38 per cent of German power production in 2018.

Market uncertainties include the coal-to-gas switching trends, replacement of thermal generation by renewables and Germany’s planned phase-out of coal-fired power, the VDKI said.

A national report on coal use is expected to be issued in the coming weeks that could call for the gradual phasing out of coal, the lobby group reported.

Renewable sources made up around 40 per cent of total generation last year as Germany looks to replace fossil fuels and reduce its dependence on Russian gas imports.

The green share of Germany’s power production has risen to 38.2 per cent in 2017 and from around 19.1 per cent in 2010, said Bruno Burger in his Fraunhofer energy study. He forecast that the level would stay above 40 per cent this year.

Source : Energy Reporters

AEX 913,25 -0,31 -0,03% 17 mei


Germany40^	18.716,50	-0,12%
BEL 20	4.004,80	+0,24%
Europe50^	5.069,27	+0,10%
US30^	39.995,10	0,00%
Nasd100^	18.540,20	0,00%
US500^	5.302,48	0,00%
Japan225^	38.732,00	0,00%
Gold spot	2.415,21	0,00%
EUR/USD	1,0874	+0,04%
WTI	79,51	0,00%

NX FILTRATION	+8,76%
VIVORYON THER...	+6,12%
Sif Holding	+4,09%
RENEWI	+3,21%
HEIJMANS KON	+3,08%

Corbion	-3,97%
ADYEN NV	-3,20%
EBUSCO HOLDING	-3,00%
SIGNIFY NV	-2,50%
PROSUS	-2,29%

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