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China Shenhua Energy to Continue Bid Coal Exploration Projects in Tavan Tolgoi, Mongolia
China Shenhua Energy Co Ltd said it is still in the running for a stake in Mongolia’s massive Tavan Tolgoi project, adding a new twist in the long-running tussle for what has been billed the world’s largest untapped coking coal resource.
Shenhua’s President Ling Wen’s comments on Tuesday came after Mongolia said it had cancelled the [...]
Massey Energy Hopes to Sell More Than 20 Million Tons of Metallurgical Coal
Mine operator Massey Energy Co. said Wednesday that its $960 million acquisition of rival Cumberland Resources this week will help double sales of expensive coal used in steel mills by 2012.
Massey hopes to sell upwards of 20 million tons of metallurgical coal a year by then, riding strong demand from the burgeoning economies of Asia.
Cumberland [...]
China Iron And Steel Association Opposes Iron-Ore Producers Increase Iron Ore Price in 2010
The China Iron and Steel Association (CISA) strongly opposes the attempt by foreign miners to increase benchmark iron ore prices by 80-90 percent in 2010, it said in a statement on Tuesday.
“On the afternoon of March 11, Eurofer (the European steel industry association) made a statement on its website strongly opposing the intention of iron [...]
Agreement Coking Coal Prices BHP and Indian Steelmakers Led to Increase Steel Prices
Indian steel maker signed an agreement with the coking coal price of BHP Billiton. Coking coal price approved for $200 per ton. Last year’s annual benchmark contract coking coal price of $ 129 per ton. Changes in coking coal prices are expected to affect the steel prices in India. The increases steel prices in India [...]
Australian Asked China Not Influence Annual Contract Negotiations Iron Ore Prices
The Australian Government through the Minister for Trade Simon Crean urged the government of China is not involved in the process of negotiating a contract setting the annual iron ore price is being done by the iron ore producers and steel makers.
Simon Crean says, “We’re not going to get involved. I have made a point [...]
BHP Billiton and JFE Steel Agreement Affect Coking Coal and Iron Ore Prices increases 55 percent
BHP Billiton and JFE Steel have agreed on an annual coking coal prices and iron ore prices, thus affecting coking coal prices reach 55%. Agreements have been made by BHP Billiton and JFE Steel are valid for fifteen months, starting in April and June. Agreements made by the largest mining producers and the largest steel [...]
Wuhan Steel Group Seeks More Iron Ore Assets Overseas
Wuhan Iron & Steel Group, China’s third-biggest steelmaker, is seeking to invest in more overseas iron ore assets to cut reliance on expensive imports, General Manager Deng Qilin said.
“We aim to be self-sufficient in iron ore supplies in three to five years and reduce purchases,” Deng, who’s also chairman of the China Iron & Steel [...]
Energy Publishing Release : New Coking Coal Index Responds To Changing Coal Market
The risk of volatility as global steel-making coal markets strengthen led to creation of a new index to facilitate more flexible pricing, developers said Wednesday.
A set of three indices created by Tennessee-based Energy Publishing Co is intended to enable the industry to move away from annual contracts for the coal, also called coking coal, editor [...]
BHP Billiton Reached Agreement Coking Coal Sales with Europe and Asia Costumer
Coking coal mining company BHP Billiton has reached a deal volume of hard coking coal sales to customers in Europe and Asia for the year 2010. Asian countries agree on the purchase of coking coal from BHP Billiton, among others, China, India and Japan. All three countries are the largest steel producers in Asia and [...]
