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A week in coal: 2 – 6 November 2015

Published by
World Coal,


A round-up of news for the week 2 – 6 November 2015

Projects and Developments

  • BMT WBM has been awarded a contract to design a new conveyor system for the Loy Yang coal mine in Victoria, Australia.
  • Oracle Coalfield’s proposed 600 MW coal-fired mine mouth power plant has received a Letter of No Objection from the government agency responsible for purchasing power for the national grid.
  • Siwetell, part of Cargotec, has secured a contract to supply a sixth unloader to the Mai-Liao power plant in Taiwan.
  • Pacific American Coal has reported updates on the metallurgical coal quality at its Elko coal project in British Columbia, Canada.
  • Duke Energy has responded to community feedback and reconfigured new plans for Western Carolina’s modernisation project, including the modernisation of Asheville power plant site.
  • New installations at SSAB’s blast furnaces in Luleå and Raahe are set to improve cost efficiency and reduce its environmental impact, as well as continue high-quality steel production.

Bids and acquisitions

  • Universal Coal has received a conditional proposal of AUS$0.25 per share from an unnamed party and will now work towards a formal bid by the end of the month.
  • GE has carried out its largest acquisition to date with the acquisition of Alstom’s power and grid businesses for €9.7 billion.

Mining

Quarterly results

  • North American Coal reports coal operation results for 3Q15 and outlooks for the next quarter’s results, as well as for 2016.
  • Cuts to Australian output and the closure of the Optimum opencast coal operation sayGlencore’s coal production fall 8% to the end of September.
  • FreightCar America Inc. report strong growth following 3Q15 results with revenues totalling US$241.1 million.

Corporate affairs

  • Australian-listed coal company, Guildford Coal, is to change its name to TerraCom Ltd as it concentrates on ramping up production at its BNU metallurgical coal mine in Mongolia.
  • Nathan Tinkler has returned to the industry where he made his fortune, becoming managing director of junior exploration company Australian Pacific Coal.
  • Natural Resource Partners 3Q15 results reflect the affect of low commodity prices and weak coal markets.

Not to be missed …

  • Slowing economic growth and demand for energy and tightening environmental restrictions are cutting China’s appetite for coal. But it is still likely to remain the dominant fuel for years to come.
  • The UK is facing a electricity shortage next winter as the government’s carbon tax forces coal-fired power plants to close early.
  • Despite increases in metallurgical coal production at the majors, cuts in high-cost production elsewhere could soon balance the market. Meanwhile, thermal coal is showing signs of life in Asia, although doom-and-gloom still clouds the North American market.

Written by Harleigh Hobbs

Read the article online at: https://www.worldcoal.com/coal/06112015/a-week-in-coal-2-6-november-2015-3126/


 

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