Skip to main content

A week in coal: 14 – 18 December 2015

Published by
World Coal,


Coal unit updates

  • Bharat Heavy Electricals Ltd has successfully commissioning a 500 MW thermal coal-fired generating unit in West Bengal, eastern India.
  • The New Mexico Public Regulation Commission approved PNM Resources' New Mexico Utility, Public Service Co. of New Mexico’s retirement of two coal-fired units at San Juan Generating Station by December 2017.

Project developments

  • Leigh Creek Energy has signed a non-binding HOA with APT Pipelines Ltd for a gas pipeline connection, marking a key milestone in infrastructure development for the Leigh Creek Energy project.
  • Glencore has announced that its proposed Blakefield North underground coal project has been placed on hold.
  • The Land Court of Queensland has rejected Coast and Country’s bid to stop the Carmichael mine, taking Adani nearer to final approval for the project.
  • Westmoreland Coal Co. has announced resumption of Buckingham mine operations following the restart of Conesville Unit 4.

Financial updates

  • Joy Global has booked a US$1.343 billion loss in the three months to 30 October on the back of a US$1.199 billion writedown of its underground reporting unit.
  • Arch Coal will defer US$90 million of interest payments under a 30-day grace period clause in its indenture agreements.
  • Glencore is increasing its debt reduction targets to US$13 billion by the end of 2016 as it announces production cuts across its portfolio.
  • Bowie Resource Partners is going to refinance existing indebtedness as part of financing for Peabody transaction.

Corporate affairs

  • TerraSource Global has appointed Jason Burlage as President following the retirement of Mark Kohler earlier this year.
  • Goldenport chairman, Chris Walton, and founder, Capt. Paris Dragnis, will step down from the board of directors at the end of this year.
  • Lars Engström has been appointed President of Sandvik Mining and member of the Group Executive Management, replacing Scot Smith, who leaves the company.

COP21

  • The UN climate change conference (COP21) ended a day late with the adoption of the Paris Agreement. Here’s what it means for coal.
  • Growth in the number of high-efficiency low-emission coal-fired power plants could boost demand for Australia’s high-quality thermal coal.
  • The American Coal Council has released a statement on COP21.

Environmental measures

  • US Representatives, Paul A. Gosar and Gary Palmer, have criticised proposed environmental regulations and the proposed changes to the Stream Protection Rule.
  • The US EPA has made an agreement with SIGECO to reduce air pollution from the company’s Southern Indiana coal-fired power plants in the US.
  • Duke Energy has now begun the permitting process to safely manage coal ash at the W.S. Lee plant in Belton, S.C. through the construction of a fully lined onsite landfill at the plant.
  • An international group of leading environmental organisations, the ENGO Network, has emphasised urgent action on carbon capture and storage projects is imperative in order to meet climate targets.

Coal handling

  • Annastacia Palaszczuk has announced it has officially opened the new third berth at BHP Billiton Mitsubishi Alliance’s (BMA) Hay Point Coal Terminal, which increases the export capacity from 44 million tpy to 55 million tpy.
  • Berkshire Hathaway business, BNSF, would join any consolidation of the North American rail sector as Norfolk Southern continues to hold out against Canadian Pacific’s advances.
  • Canadian Pacific has upped its offer for US rail operator, Norfolk Southern, again as takeover battle heats up.
  • Port of Antwerp has ended its financial interest in Indian port operator, Essar Ports Ltd, but will continue to offer consultancy and training services to the Indian ports sector.

Not to be missed …

  • US coal production will fall by a further 3% in 2016 after a drop of almost 100 million t in 2015, according to the EIA’s latest Short-Term Energy Outlook.
  • Bank of American Merrill Lynch expect coal prices to continue to fall in 2016 as supply and demand trends keep the market in surplus.

Written by Harleigh Hobbs

Read the article online at: https://www.worldcoal.com/coal/18122015/a-week-in-coal-14-18-december-2015-3317/


 

Embed article link: (copy the HTML code below):