Coal project updates
- Japanese trading house, Mitsui & Co., remains committed to its investment in Vale’s Mozambique coal and logistics projects.
- Centaur Holdings Ltd is moving forward with expanding De Roodepoort in South Africa.
- Kibo Mining has announced that the definitive power feasibility study (DPFS) work has been completed on schedule at the Mbeya coal to power project.
- ASK-listed coal company, Cokal, has sold its PT Anugerah Alam Manuhing tenements in Indonesia.
- A court in Warsaw has confirmed Prairie’s legal right to develop coal in the K-6-7 concession, part of its Lublin Coal Project.
Powering up (and down)
- BHEL successfully commissioned a 250 MW coal-fired thermal power plant in Bihar, India.
- The Tennessee Valley Authority’s Colbert coal-fired power plant was closed, marking the end of TVA coal-fired generation in Alabama.
- GE’s Steam Power Systems executes engineering, procurement and construction agreement for a1000 MW ultra-supercritical power plant in Malaysia.
- After providing 50 years of electricity production, the UK’s Ferrybridge C coal-fired power plant ceases production.
- SSE has secured a one-year contract for one unit at Fiddler’s Ferry coal-fired power plant in Cheshire to provide ancillary services to National Grid.
- BHEL has successfully commissioned its fifth 500 MW set at Chandrapur super thermal power project in Maharashtra, India.
Sales and acquisitions
- CONSOL Energy closes on the sale of the Buchanan mine and other metallurgical coal assets to Coronado for total consideration of US$420 million.
- Walter Energy has completed the sale of its core assets to Warrior Met Coal – a company owned by its first lien creditors.
Layoffs at US mines
- Arch Coal has said it will cut 15% of its workforce at its giant Black Thunder mine in the Powder River Basin.
- Peabody Energy announces redundancies at its North Antelope Rochelle mine in the Powder River Basin.
A bag of mixed results
- Appalachian coal producer, Corsa Coal, has reported substantially increased earnings from its Northern Appalachian operations, but its Central Appalachian business struggles.
- Rhino Resources lost US$34 million in 4Q15 on revenues of US$39.6 million.
- Corsa Coal has seen “signs of improvement” in the metallurgical coal and steel markets.
Dry bulk transport
- Dry bulk contracting comes to a halt but demolition is on the rise, according to a new report from BIMCO.
- Canadian Pacific asks Northern Southern’s shareholders to vote on a resolution to force the US company’s board into merger discussions.
- Eagle Bulk has agreed a new funding deal with its lenders and shareholders.
Not to be missed …
- The West Virginia Coal Association has called on West Virginia Senator Joe Manchin to reject Marrick Garland’s nomination to the Supreme Court.
- The decision to extend operations at Fiddler’s Ferry coal-fired power plant highlights the real concern about the UK’s security of electricity supply, according to Alan Richards, Head of Risk Management and Research at Utilyx.
Written by Harleigh Hobbs