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Weekly coal news highlights: 15 – 19 February 2016

Published by
World Coal,


Mining

  • Following Mining Indaba 2016, Liv Carroll, Wardell Armstrong International, asks whether the mining industry can return to long-term sustainable growth.
  • Australian Minister for Resources, Energy and Northern Australia, Josh Frydenberg, spoke on the resilience of Australia’s mining and energy sectors at a recent speech to the National Press Club in Canberra.
  • US coal companies need speed up cuts to production if coal prices are to have any chance of turning around.
  • GMB’s new method to neutralise flooded opencast mines using the natural water circulation to distribute lime and CO2 is successfully demonstrated in a pilot project in Lake Scheibe, Lusatia.

Coal-fired power

  • BHEL wins Rs.35 000 million order for 2 x 800 MW supercritical boilers at the Telangana super thermal power project in India.
  • Thermal Powertech Corp. has signed an 8-year power purchase agreement with Telangana power distribution companies for 570 MW power distribution.
  • Bharat Heavy Electricals Ltd has successfully commissioned a 270 MW coal-based power project in Punjab, India.
  • Talen Energy has completed the sale of C.P. Crane and its coal-fired power plant in Maryland, US, to an affiliate of Avenue Capital Group.
  • Doosan Skoda Power is to supply a high-efficient steam turbine generator set for the IEM1 (Infraestructura Energética Mejillones) coal-fired power plant in Chile.
  • Mitsubishi Hitachi Power Systems has received an order to refurbish eight units at the Ulaanbaatar thermal coal-fired power plant in order to improve efficiency and extend service life.

Coal handling

  • The latest coal export data for January shows that regional Queensland continues to do the heavy-lifting for the state’s coffers and demand remains strong for the region’s high-energy, lower-emission coal.
  • US rail shipments of coal have slumped at the start of this year compared to 2015, falling by about a third.
  • A short three years has turned the business case for new US coal export terminals on its head as US coal export hit economic reality.
  • Thermal coal imports through India’s major power grew strongly from April 2015 to January 2016 compared to the previous year.

Projects

  • Morien Resources has released an update on development activities at the Donkin coal project in Cape Breton, Nova Scotia.
  • Paringa Resources reports scoping study results of the Buck Creek No.2 mine show it is a key undeveloped coal project in the Illinois Basin.
  • Metallurgical testing on Mbeya coal has confirmed its suitability for use in the proposed Mbeya coal-to-power project in Tanzania.

Moving away from coal?

  • UK coal miner and importer, Hargreaves Services, is to realign its business away from thermal coal in response to weakening market conditions.
  • Anglo American is putting its coal assets up for sale as part of a dramatic realignment of its business to focus on its De Beers diamond, Anglo American Platinum and copper businesses.

Earnings announcements

  • Anglo American lost almost US$5.5 billion in 2015 despite efforts to reduce costs and improve productivity.
  • Whitehaven has reported a net profit after tax of AUS$7.8 million and record ROM and sales of coal of 7.1 million t and 7.3 million t for the half year ended 31 December 2015.
  • Cloud Peak Energy has announced a full-year loss of US$204.9 million and said it will stop exporting coal this year.
  • Australian engineering company, Monadelphous, saw almost AUS$1 billion in new maintenance contracts in 2H15.
  • Underground coal contractor, Mastermyne Group, has announced its half year results, reporting a 28% increase in revenue for 1H16 compared to the previous year.

Not to be missed …

  • Booming energy demand will see coal production increase in the Philippines as the government targets coal-fired power development to meet supply gap.
  • BP forecast significantly slower growth in coal demand to 2035 with gas overtaking the black rock as the world’s second largest primary energy source.


Written by Harleigh Hobbs

Read the article online at: https://www.worldcoal.com/coal/19022016/weekly-coal-news-highlights-15-19-february-2016-278/


 

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