Weekly coal news highlights: 15 – 19 February 2016

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.

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