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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 [...]
Transnet to Increase Capacity of Coal Rail Line Up To 91 Million tonnes
South Africa’s logistics group Transnet could raise the capacity on its coal rail line to 91 million tonnes in five to six years from 70 million, if the private sector helps foot the bill, its head said on Thursday.
Acting Chief Executive Chris Wells said the cost for the expansion would be “significant” and the company [...]
Shanxi Puda Coal Received Approval to Consolidate Four Additional Coal Mines in Pinglu County
In order to improve production efficiency and safety in the workplace and to reduce coal mine accidents, in early 2009, the province of Shanxi, the government issued a policy requiring the merger and consolidation of companies in the coal mining province of Shanxi. In accordance with government policy, large corporations coal production given the opportunity [...]
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 [...]
China Set Up Coal and Coking Coal Futures in Shanxi Coal Mine
China should set up a coal and coking coal futures exchange in Taiyuan, capital city of the coal-rich Shanxi Province, as soon as possible, a lawmaker said Friday.
Launching coal and coking coal futures would allow investors to use arbitrage to preserve value of coal and coke in the production, transportation, and sales process, and would [...]
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 [...]
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 [...]
