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Strait Asia Resources Plans To Increase Coal Mine Production to 20 million tones by 2012
In Reuters news online reported, Singapore listed Straits Asia Resources aims to more than double its annual coal production to 20 million tonnes by 2012 and may acquire two Indonesian coal mines to achieve that target.
Analysist Mining and Industry Sector : China’s Industry Sector Reopen Coal Mine Import After Deal Coal Prices Contract
A months-long dispute between Chinese coal miners and power generators over annual prices has unexpectedly opened the door to rising imports, despite lacklustre demand and a supply glut.
Coal Mining Exploration Forecast Probably not so hot anymore
The recent drop in the market price of coal from its record levels earlier this year will adversely impact earnings of Indonesian coal producers. Based on this factor, going forward, we expect weaker coal prices in line with the downtrend in oil prices, while higher supplies are expected on China’s higher exports as domestic consumption [...]
China Energy and Metal Producer CITIC Announce Net Profit Jump, Increase Oil Production And High Metal Prices
The company said in a statement filed with the Hong Kong Stock Exchange that revenue in the Jan.-Jun period climbed 83% to hit HK$9.49 billion, compared with HK$5.18 billion. Earnings per share increased to HK$0.984 from HK$0.283.
China’s energy and base metals producer CITIC Resources Holdings Ltd<1205> announced on Monday its net profit jumped almost fourfold [...]
Coal Mining Exploration Company, Semirara Sees Strong Profit Growth
Semirara Mining Corporation, the country’s largest coal producer, expects its net profit to rise more than 20 percent this year and coal revenues to jump as much as 56 percent mainly due to higher coal prices and increased exports, the company’s chief executive said Tuesday.
Semirara hopes to sustain its double-digit profit and coal revenue growth [...]
Rio Tinto Cintinue to Increase Iron Mine Exploration and Production From Pilbara mines
Rio Tinto says its expansion program has paid off with quarterly production records set in iron ore and alumina in the three months to June.
The mining giant said production of iron ore, which is the largest contributor to Rio’s earnings, increased 13 per cent to 41.9 million tonnes from a year earlier as the company [...]
NTPC shortlists two coal firms from Indonesia for JV
The state-run National Thermal Power Corporation (NTPC) has shortlisted two Indonesian Companies, Persada Investama and Sugico Graha, for coal mining. The corporation proposes to participate in the forthcoming bidding process for the coastal ultra mega power projects (UMPP) based on its proposed agreement with these Companies.
According to sources, NTPC and Indonesian coal Companies can jointly [...]
Mining Contract : Japanese Coal Mining and Xstrata contract coal price ups 20 percent
Xstrata Plc XTA.L has upped its offer in thermal coal term contract negotiations with Japanese utilities by as much as 20 percent to $78 a tonne on a worsening supply outlook, industry sources said on Thursday.
But the utilities, such as Chubu Electric 9502.T, balked at the steep increase in prices, producers and Japanese buyers said.
“Japanese [...]
Chinese coal producers supplies to South Korean
Chinese coal producers offered supplies to South Korean utilities at 7.5 percent above prices concluded in May with Japanese rivals because shortages of the fuel have worsened, said buyers involved in the talks.
Sellers, including China National Coal Group, sought $73 a metric ton from buyers led by Korea Southern Power Co., said two Korean utility [...]
