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China Sees Coal In New Light

Tuesday, June 16, 2009

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Chinese coal trader China Qinfa Group is planning an US$ 81 million (HK$630 million) Hong Kong IPO, for investment in new production facilities. The company is set to sell 250 million shares at a range of HK$2 to HK$2.52 per share, representing a 2008 price-to-earnings multiple of 7.5 to 9.5. Also, Alpha Natural Resources Inc (ANR.N) is to acquire Foundation Coal Holdings Inc (FCL.N) for $1.5 billion in an all-stock deal to create the third-largest U.S. coal producer, signaling an expected wave of consolidation in the fragmented industry.

Rip Might Show In Coal Supply/Demand

Thursday, June 4, 2009

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Though the world economy continues to remain frail, more and more production is coming on line and mines are being developed. And as factories begin to open rather than close, and for all the new nuclear power plants being foreshadowed, there will be an enormous demand for thermal coal. A false dawn?

Relentless Pursuit Engages Coal

Friday, May 29, 2009

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China has tentatively agreed to majority finance an ambitious US$ 5.15 billion Queensland coal mine project, as the north Asian giant continues its relentless pursuit of Australia's resource assets. Australia's Waratah Coal Pty Ltd. announced in Brisbane on Thursday that it has entered into a deal with China's Metallurgical Group Corporation (MCC) for developing the country's largest thermal coal mine in Queensland at a cost of A$6.6 billion.

Coal Prices Are Set To Shine

Friday, May 8, 2009

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Coal prices have fallen from a record high of $200 a tonne delivered into Europe last September to around $60 at present. Demand for coal in Asia is a major support factor for coal prices and China and India are expected to continue to drive demand growth in Asia. Europe is also expected to see a more balanced market from Q3 this year, analysts said.

Coal Unions have opposed Disinvestment Of CIL

Fri, Jul 3, 2009

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Five major coal unions on Thursday opposed the government’s move to sell its stake in Coal India saying the firm is competent enough to meet its financing needs and demanded infrastructure status for the sector. For full story, click here

Coal Linkages to 25 Captive Power Plans Spiked

Fri, Jul 3, 2009

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The government on Friday spiked coal supply assurances called linkages in industry parlance of 25 captive power projects with a view to weeding out non-serious players and freeing up fuel for plants running short. For full story, click here

Santos will spend $476 mln increasing coal seam gas

Fri, Jul 3, 2009

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Santos will spend A$476 million to expand its coal seam gas assets in the Gunnedah basin in Australia’s New South Wales state. For full story, click here

China Shenhua Energy will double Coal Capacity by 2014

Fri, Jul 3, 2009

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China Shenhua Energy Co Ltd has planned to double its annual coal output capacity by 2014 from this year’s level. For full story, click here

Coal Unions have opposed disinvestment of CIL

Fri, Jul 3, 2009

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Five major coal unions on Thursday opposed the government’s move to sell its stake in Coal India saying the firm is competent enough to meet its financing needs and demanded infrastructure status for the sector. For full story, click here

Indonesia Investors has eyed BHP Billiton Coal Project

Fri, Jun 26, 2009

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About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd. For full story, click here

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