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China Coal Mining Companies, Shenhua Group Suspended $2.5 billon Mine Project
The biggest China coal mining company has suspended a $2.5 billion mining exploration project. This act impact of global financial crisis.
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.
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 [...]
China coal firms cut exports to Korea, Japan
Chinese producers have cut thermal coal shipments to South Korean and Japanese power utilities on tight supply and high domestic prices, a move likely to spur price gains in an already tight Asian market.
The news follows data on Monday showing Chinese coal exports fell by nearly half in January from the previous month, raising fears [...]
China, sure of power supply, freeing coal prices
China will allow coal producers and consumers to set their own prices without state interference next year, as Beijing anticipates excess supplies and more than enough power capacity, government documents showed.
Analysts say the shift reflects Beijing’s growing confidence in energy and resource price reforms that will bring rates into line with higher global markets in [...]
Uranium now a hot commodity
Uranium is the energy investment of choice for a growing number of hedge funds, which claim a sixfold gain since 2001 is just the beginning of a rally that will last years.
“We’re in a historic uranium shortage,” said James Passin, who manages $580 million at New York-based Firebird Management and began buying shares of uranium [...]
Xstrata, Japan agree steady Australia coal price
Coal miner Xstrata Plc has agreed with major Japanese utilities to keep its Australian thermal coal prices steady this year at about $52,50 a tonne, setting a likely industry benchmark after drawn-out talks.
The price for supplies in the Japanese fiscal year to March 2007, coming more than three months after it was meant to have [...]
