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Itochu Targets Mongolian Coal to Expand Trade as Prices Surge
Itochu Corp., Japan’s fourth-largest trading company, invested in Winsway Coking Coal Holdings Ltd. to secure coal from Mongolia, stepping up competition with China and Russia for the steelmaking ingredient as prices jump.
Itochu joined a group led by Hopu Investment Management Co., the $2.5 billion fund run by Goldman Sachs Group Inc. partner Fang Fenglei, in [...]
Macarthur Coal Forecasts Full-Year Profit Potential Fall 39 Percent
Coking coal producers Macarthur Coal full year profits will likely come down until it reaches 39 percent compared to last year after coal prices fell in the recession.
Net income may be A$103 million to A$113 million for the year ending June 30, down from A$168.6 million in 2009, the Brisbane-based company said in a statement [...]
Hua Zugui Opinion: The Growth of Coal Production and Coal Price Changes in China in 2010
Managing Director of China Coal & Coke Holdings, Mr. Hua Zugui their opinion about the growth of coal production in China and coal prices changing in global markets during the year 2010. Opinion delivered on the “6th Steel Supply Demand Strategy & Development Forum”.
Mr. Hua said the trades in metallurgical coal resources remain tight in [...]
ArcelorMittal Mining Companies Considering Produce Coking Coal in Russia
ArcelorMittal mining companies to consider an offer from Ukrainian steel group, Donetskstal to form joint ventures to produce coking coal which is located in the Kemerovo region of Russia.
Donetskstal is the holder of mining rights to develop Karagaylinskaya. Estimated production capacity of coking coal mines Karagaylinskaya to reach 1.5 million mt per year. Donetskstal plans [...]
Gujarat NRE Sees Coking Coal Orders at Above $200/T
Metallurgical coke producer Gujarat NRE Coke expects long-term coking coal price contracts to be signed “anytime now” at over USD 200 per tonne, its managing director told Reuters on Tuesday.
Coking coal producers re-negotiate prices every year by January, but a spike in prices this year extended negotiations beyond the customary closure, Managing Director Arun Kumar [...]
Mining Demand Reported : China Increased Coal Imports Reached 16.4 Mln Tons
End of the year 2009 has changed the status of China as the country’s largest coal importer in the world. Previously China is the largest coal producer in the world. But closing some coal mines in China, especially coal mines in Shanxi, China’s coal production resulted in decreased sharply. Other factors increasing demand for coal [...]
China Steelmaker Compete For Import Of Coking Coal Next Year
China as a country that has the largest steel manufacturer in the world, probably next year will face competition with Japan and South Korea for coking coal. This year China’s coking coal imports increased 12-fold. Increased coking coal imports due to China’s government policy to close some coal mines that are not considered safe in [...]
China Import Demand For Iron Ore And Coal Affect Australian Iron Ore And Coal Export
China’s preliminary November trade data are painting a supportive picture for Australian iron ore and coal exports. Iron ore import flows are back to the long-term growth trend, while China’s coal exports were down 30% month on month and are down 47% year on year, with export tonnage being diverted into China’s strengthening domestic market.
Mongolian Government To Finish Mining Companies Selection To Explore Coal Mines Resources In Tavan Tolgoi Mine
Mongolia to develop mineral mining resources to advance the country’s economy, which can help people out of poverty. To attract investors and mining companies to explore mineral mining resources in territory of Mongolia territory, the government offered shares worth $ 2 billion.
