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Coal

2.845 Posts
Pagina: «« 1 ... 72 73 74 75 76 ... 143 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 3 december 2019 16:33
    CIL NCL Coal Production in 8 Months up by 7% YoY

    Coal India Limited subsidiary Northern Coalfields Limited has produced 69.93 million tonnes of coal in April 2019 to November 2019 which is about 7% higher than 65.63 million tonnes of coal produced in the same period of last fiscal and is about 103% of the target set for the current financial year till the end of November. Similarly, in the first eight months of the current financial year, NCL has despatched a total of 70.13 million tonnes of coal to all its coal consumers including powerhouses, which is about 5% higher than the coal despatched during the same period of last financial year. During the same period in the last fiscal, the company had despatched 66.61 million tonnes of coal to all its coal consumers.

    NCL has been assigned the target of 106.25 million tonnes of coal production and coal despatch in the current financial year. In the last fiscal, NCL posted 101.50 million tonnes of coal production and 101.60 million tonnes of coal dispatch.

    Source : Strategic Research Institute
  2. forum rang 10 voda 4 december 2019 19:38
    Coal Becoming Uninsurable as More Insurance Firms Refuse Cover

    The Guardian reported that the number of insurers withdrawing cover for coal projects more than doubled this year and for the first time US companies have taken action, leaving Lloyd’s of London and Asian insurers as the last resort for fossil fuels. Unfriend Coal campaign report said that 10 firms moved to restrict the insurance cover they offer to companies that build or operate coal power plants in 2019, taking the global total to 17. According to a new report, which rates the world’s 35 biggest insurers on their actions on fossil fuels, declares that coal is on the way to becoming uninsurable as most coal projects cannot be financed, built or operated without insurance.

    The first insurers to exit coal policies were all European, but since March, two US insurers Chubb and Axis Capital and the Australian firms QBE and Suncorp have pledged to stop or restrict insurance for coal projects.

    Lloyd’s, the world’s biggest insurance market, is the only major European firm which continues to insure new coal projects.

    Source : The Guardian
  3. forum rang 10 voda 4 december 2019 19:39
    Ukraine Court Opens Case into Donbass Coal Export

    According to a report in SonntagsZeitung, Ukrainian judiciary has named the Zug based Fontus AG in a criminal case concerning the illegal import of hard coal from the Donbass region in eastern Ukraine, which is occupied by pro Russian separatists. In addition to Fontus, the judiciary has named three other companies that are domiciled in Switzerland or whose owners are Swiss. They are not directly accused, but the Swiss are said to have helped Ukrainian companies export coal to Ukraine and EU countries.

    However a Swiss representative of Fontus told the SonntagsZeitung with certainty that the company does not trade in Donbass coal. In addition, in the Ukrainian court document the representative sees no mention whatsoever of the fact that Fontus AG is involved in criminal proceedings.

    Another firm registered at the same Zug address as Fontus is The Global Investment Partnership, whose board of directors lives in Luhansk, a centre of Donbass separatists.

    Importing this coal is legal in both the European Union and Switzerland. However, the EU and the US have imposed sanctions on companies and individuals who were involved in Russia’s annexation of the Crimea.

    Source : Swiss Info
  4. forum rang 10 voda 4 december 2019 19:39
    SCCL to Increase Coal Production till March

    Singareni Collieries Company Ltd has decided to scale up production in the remaining four months of the current financial year to reach the targets set for the year at the rate of 2.08 lakh tonnes of coal production and 14 lakh cubic meters of overburden removal every day. SCCL CD Mr N Sridhar told company officials “Increase in the production in the targeted measure would help the company overcome the deficit registered during the last four months, from August to November, and help meet the monthly goals for the remaining four months.”

    According to SCCL officials, although the coal production in the first eight months of the current fiscal is slightly up compared to that during the last year 41.03 million tonnes this year against 39.54 million tonnes in the first eight months of 2018-19, it is 1.73 million tonnes lesser during the August-November period of 2019-20 against the same period of the last fiscal.

    Source : Hindu
  5. forum rang 10 voda 4 december 2019 19:40
    Indonesia Reviewing Domestic Market Coal Obligation Rules

    Reuters reported that Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers. Ministry of Energy and Mineral Resources coal and minerals director general Mr Bambang Gatot Ariyono said “We are thinking of ways to avoid harming the domestic sector, but still takes care of exports. The changes are aimed at finding the balance between domestic obligation and exports. The government will also draft new regulations to support its agenda of building a downstream industry for coal.”

    However Indonesian Coal Mining Association Chairman Mr Pandu Sjahrir said that “Domestic coal consumption remains unchanged at 120 million tonnes a year while output is climbing to 600 million tonnes. If the government wants to keep the 25% DMO, output should be capped at 480 million tonnes.”

    Indonesian coal miners are currently required to sell 25% of their output to the local market, mainly state-owned electric company PT Perusahaan Listrik Negara, a policy known as the domestic market obligation. However, since PLN’s demand is limited while output is climbing, the miners are unable to maintain the ratio of exports to domestic sales.

    Source : Reuters
  6. forum rang 10 voda 4 december 2019 19:41
    CIL Coal Production in November Dips 3.9% YoY

    Indian state owned coal giant Coal India Limited produced 50.02 million tonnes coal in November 2019, down by 3.9% YoY as compared to 52.06 million tonnes in November 2018. For the period April- November 2019, the coal production stood lower by 7.8% at 330.08 million tonnes as compared to 358.30 million tonnes in the corresponding period of previous year.

    Total offtake was 47.37 million tonnes in November 2019 compared to 51.26 million tonnes in November 2018, recording a decline of 7.6%. For the period April- November 2019, the coal offtake was lower by 7.2 per cent at 363.63 million tonnes compared to 392.02 million tonnes in the corresponding period of previous year.

    Source : Strategic Research Institute
  7. forum rang 10 voda 5 december 2019 19:48
    World Coal Association COP25 Media Statement

    The World Coal Association has responded positively to the Paris Agreement, seeing it as an opportunity to renew commitments to financing low emission technologies. Transitioning to clean energy does not mean a transition away from coal. It means transitioning to technologies that can achieve zero emissions, such as carbon capture, use and storage. It said “Many countries have identified high efficiency low emissions coal technologies as part of their Nationally Determined Contributions in the Paris Agreement; while some countries have also included a role for CCUS technology. Most of these countries are developing and emerging economies that have to meet their growing energy needs, ensure energy access, and reduce emissions. These technologies are critical to achieving global climate aspirations. In the International Energy Agency’s most recent Stated Policies Scenario, which incorporates all of the climate pledges announced by governments, coal is predicted to still generate 25% of the world’s electricity in 2040. 70% of world steel production is reliant on coal and it is widely used as a source of energy in the cement industry.”

    WCA said “Given the continued role of coal, WCA has been clear that technology and innovation are critical in driving down emissions and ensuring that energy and climate change challenges are addressed as integrated priorities. It is essential that we see responsible investment, development and deployment of clean fossil fuel technologies – including coal.”

    WCA added “Technology is the most significant catalyst to achieving our environmental aspirations. This is a multi-faceted goal and requires a balanced and collaborative response from governments, investors and industry.”

    WCA concluded “At COP25, WCA will continue to advocate for policy parity for all low emission technologies, including HELE coal and CCUS, alongside calling for greater action on CCUS. The deployment of these technologies will be key to the success of the Paris Agreement and to the clean energy transition.”

    Source : Strategic Research Institute
  8. forum rang 10 voda 5 december 2019 19:49
    City of Richmond Delays Blocking Coal Exports from Levin Richmond Terminal

    City of Richmond in California won’t decide whether to ban coal shipments until next month after a meeting Tuesday night ended without a vote. It was expected to approve a ban on coal at a terminal that accounts for almost a quarter of exports from the US West Coast. The prohibition will shut miners out of one of the few places in the region willing to handle the fuel and limit their access to one place in the world where coal demand is still growing. The legislation targets a port operated by Levin-Richmond Terminal Corp., which last year loaded almost 1 million metric tons of the fuel bound for Japan and South Korea. The ordinance would also include petroleum coke, a by product of oil refining and another major product handled by the terminal. Richmond Mayor Mr Tom Butt said "This is something we can do that will almost certainly result in less coal shipped from the US to Asia, and maybe less coal burned in Asia.”

    Richmond is only the latest West Coast city to fight back against coal passing through the region, an effort to both combat climate change and get rid of the dust coating their towns. Several efforts to build US West Coast coal terminals have failed in recent years amid resistance from environmental groups and local leaders. Washington denied a permit in 2017 for a facility that would've shipped as much as 44 million tons a year overseas. The year before that, the US Army Corps of Engineers rejected another project in the state. Oregon also quashed export terminal plans in 2014. And just a few miles away from Richmond, the city of Oakland has banned handling coal, though that decision faces legal challenges.

    Source : Bloomberg
  9. forum rang 10 voda 5 december 2019 19:58
    International Coal Miners Need to Understand Indian Market - CEO WCA

    World Coal Association feels that international companies will require time to understand India's supply chains and how to meet growing demand of coal, following opening up of the Indian coal sector to foreign direct investment. World Coal Association CEO Ms Michelle Manook said “As with any large and complex investment decision, there are many risk factors to consider when investing in energy, the location of the blocks, transportation logistics, the prospect of further blocks coming to auction in order to grow your position, the end-user like power sector or for iron ore and steel, just to name a few. Investors will take their time to properly consider all of these elements as they would in any market. And it is these elements that will guide investment and the speed of the opening up of the coal sector in India.”

    She added that “They could see from the recent government-to-government initiatives between India and Russia over the import of metallurgical coal that the Indian government understands the importance of government policy which encourages investment security and diversity. What is also clear is that coal will remain the main energy source in India for the next 30 years and that investment in the coal industry is vital to modernising the coal industry, particularly through innovation. This will create efficiencies along the production chain and also create better and cleaner energy for consumers. Reliable, stable electricity grids are vital to supporting the development of industries, businesses and the public services that are the foundations of modern India. Coal will also support the growth in India’s renewables by providing system reliability, which complements renewable intermittency.”

    She said the World Coal Association looks forward to engaging with the Indian Government and local industry in the new year to support this evolution.

    Source : ET
  10. forum rang 10 voda 5 december 2019 20:02
    India to Spend INR 937 Crores for Exploration of Non-CIL Coal Blocks

    Indian Coal Minister Mr Pralhad Joshi informed Rajya Sabha “The government has allocated funds of Rs 937 crore in the current financial year 2019-20 for carrying out exploration in non-CIL blocks in coal and lignite Of this fund, INR 120 crore has been earmarked for regional exploration and INR 817 crore for detailed drilling.”

    He added “Regional exploration has been planned for 37 coal blocks and 10 lignite blocks whereas detailed drilling has been planned for 121 coal blocks and one lignite block. Such exploration programme is approved every year.”

    Exploration of non-CIL coal blocks is carried out under the Central Sector Scheme 'Exploration of Coal & Lignite' of the coal ministry. Under this scheme, both regional exploration and detailed drilling of these blocks are conducted.

    Source : PTI
  11. forum rang 10 voda 5 december 2019 20:02
    Digital Monitoring Platform for Coal Sales to Start in January

    Indonesian mining ministry announced that Indonesia will require miners to report mineral and coal sales activities for domestic sales and exports through a new online platform. Director general of coal and minerals Mr Bambang Gatot Ariyonom said “The platform will compare sales data submitted by miners and compare them to their work and budget plan approved by energy ministry, including volume, quality, origin and sales destination of the product. Surveyors and the customs office will also be able to use the data uploaded on the platform for monitoring.”

    Mineral producers are required to start using the platform by Jan. 1, 2020. The platform was introduced to coal miners last month. Companies will not be allowed to continue operating if they failed to submit their sales report to the system, he added.

    Source : Strategic Research Institute
  12. forum rang 10 voda 6 december 2019 19:06
    CAG Report Reveals Excess PF Deposit by CIL

    ET reported that India’s Comptroller and Auditor General has pulled up Coal India for making an excess contribution of INR 371 crore to its provident fund body unlawfully for five years till 2018. The national auditor has pointed out in a recent report that Coal India and its subsidiaries deposited the sum with the Coal Mines Provident Fund Organisation as an employer’s share of provident fund contribution on leave encashment, though this was not permissible under law. They said “The practice was not stopped despite a Supreme Court order dated March 2008 in another civil case and despite highlighting the same in the C&AG’s Audit Report of 2009-10.”

    A senior Coal India executive, however, argued that the practice was stopped after CAG pointed out the issue.

    Coal India deposits retirement benefits with CMPFO that is matched by the employee contribution every month. It is used by CMPFO to pay a lump sum on retirement and disburse the monthly pension to the staff. It is a standard practice in public sector companies for employees to opt for cash in lieu of accrued leave. This being an income, the employer deducts a portion and deposits it with the CMPFO as part of retirement benefit. The Supreme Court ruling mentioned that the basic wage was never intended to include amounts received for leave encashment and directed that if any payment has been made, then it can be adjusted for future liabilities. According to CAG, even after a clarification by the CMPFO commissioner in July 2016, no action was taken by Coal India till November 2017 to discontinue the practice. Coal India subsequently instructed its subsidiaries for discontinuing the practice.

    Source : ET
  13. forum rang 10 voda 6 december 2019 19:06
    Whitehaven Coal Updates Guidance for FY20

    Whitehaven Coal has recently experienced more challenging local and regional labour market conditions impacting its ability to fill rosters at Maules Creek with appropriately skilled operators. It said “The shortfall in experienced personnel has contributed to unanticipated productivity losses detailed in the revised guidance provided below. Whitehaven expects it could take the balance of the financial year to source, select, on-board and train the necessary workers at Maules Creek in order to achieve a return to full utilisation of equipment and increase related operating productivity. While the company has and will continue to draw heavily on the local employment capacity, it is actively pursuing a range of short and medium term options in conjunction with employment service providers, mining service providers, local council and others to attract additional talent to the local area. This multi-limbed strategy is necessary to ensure Whitehaven is well positioned to deliver on its pipeline of local growth opportunities.”

    It also said “Production at Maules Creek has also been affected by numerous unscheduled production stoppages during November and December from smoke, dust and haze events which are a function of ongoing severe drought conditions. With safety a key consideration, this has led to reduced truck speeds in lower visibility environments and in some cases required operations to be temporarily suspended. As a 24x7 operation still to achieve 100% in-pit dumping, Maules Creek has been disproportionately affected by these conditions relative to our other open cut operations which have shorter haul distances. The guidance incorporates an expectation of further disruptions during the summer months.”

    It concluded “Whitehaven confirms these factors will impact FY20 cost guidance. A cost range has been provided. The range incorporates expectations for both the impact of weather and recruitment and training upon productivity and utilisation outcomes at Maules Creek over the balance of FY20. Drought continues to place significant pressure on many businesses right across New South Wales and Whitehaven is not immune to its impacts. Currently no interruption is expected for FY20 operations on account of water supply issues but the company will update the market in the event regulatory delays around further water supply augmentation measures already in train impact this revised guidance.”

    Source : Strategic Research Institute
  14. forum rang 10 voda 6 december 2019 19:06
    Indian Coal Sector Performance since FY 2013-14

    Indian Coal Minister Mr Pralhad Joshi informed the Parliament that “The Indian Government has collected INR 203221 crore in revenue from Coal India Limited in the last six years beginning from financial year 2013-14 up to the last fiscal 2018-19. Of the total revenue received, the maximum of INR 44826 crore was mopped up in 2018-19. In 2017-18, the revenue stood at INR 44046 crore while in the preceding fiscal, it was 44068 crore. In 2015-16, the government fetched INR 29084 crore whereas the figure remained at INR 21482 in financial year 2014-15. In FY 2013-14, it remained at INR 19713.52 crore.”

    Minister also informed that the consolidated state-wise coal production from the functional coal mines during last six years, 2013-14 to 2018-19, remained at 3876 million tonnes. In FY 2018-19, it remained highest at 729 million tonne.

    Source : Strategic Research Institute
  15. forum rang 10 voda 6 december 2019 19:07
    Teck Resources and CN Sign 5 Year Coking Coal Transport Pact

    CN and Teck Resources Limited announced a long-term rail agreement for shipping of steelmaking coal from Teck’s four BC operations between Kamloops and Neptune Terminals and other west coast ports. The agreement runs from April 2021 to December 2026, and will enable Teck to significantly increase shipment volumes through an expanded Neptune Terminals. The agreement also provides for investments by CN of more than CAD 125 million to enhance rail infrastructure and support increased shipment volumes to Neptune.

    With this new agreement in place Teck and CN are committed to working together to move significant volumes of steelmaking coal to markets safely and efficiently.

    The terms of this agreement are confidential.

    Source : Strategic Research Institute
  16. forum rang 10 voda 6 december 2019 19:09
    Birla, Prakash Inds, Powerplus Traders and Vedanta Bag 5 Coal Mines in Auction

    After a long gap of 4 years, India’s Ministry of Coal has approved the allocation of five coal mines. This was the result of the electronic auction conducted by Ministry of Coal in first week of November 2019 when ministry had initiated the auction processes for 27 coal mines for non-regulated sectors. The significant feature of the allocations is that for the first time, the successful bidders shall have the flexibility to sell 25% coal produced in the open market.

    The details of the five Coal Mines allocated are

    Zie pdf

    Source : Strategic Research Institute
  17. forum rang 10 voda 8 december 2019 14:38
    Greenpeace: ING steekt meest in steenkool

    Gepubliceerd op 8 dec 2019 om 11:19 | Views: 1.377

    AMSTERDAM (AFN) - Van de Nederlandse financiële instellingen steekt ING het meeste geld in steenkool. In een kleine drie jaar leende de bank 2,6 miljard euro aan negen bedrijven die kolencentrales bouwen. Pensioenfonds ABP staat op de tweede plek, gevolgd door verzekeraar Nationale Nederlanden, meldt Greenpeace zondag na onderzoek.

    Het ABP heeft volgens Greenpeace voor 715 miljoen euro aan aandelen in veertig bedrijven die nieuwe kolencentrales bouwen. Nationale Nederlanden heeft aandelen en obligaties ter waarde van 559 miljoen euro in 28 bedrijven die dergelijke centrales willen bouwen.

    Op de vierde plek staat pensioenfonds PGGM, met 557 miljoen aan aandelen in 45 bedrijven die nieuwe kolencentrales bouwen. Verzekeraar Aegon sluit de top 5 met 202 miljoen euro aan aandelen en obligaties in 25 bouwers van kolencentrales.

    Opvallend

    Dat ING 2,6 miljard euro heeft geleend, is volgens Greenpeace opvallend, aangezien het bedrijf heeft beloofd vanaf 2025 geen bedrijven meer te financieren die kolencentrales bouwen. "Dat is een goede toezegging van ING, maar van de centrales die nu worden gebouwd, is het de bedoeling dat die nog wel dertig of veertig jaar meegaan", zegt campagneleider Kees Kodde.

    ING zegt zich niet te herkennen in de cijfers. De bank financiert sinds 2015 naar eigen zeggen geen kolencentrales meer en ook geen elektriciteitsbedrijven die voor meer dan 50 procent op kolen draaien. "Eind 2025 zal de financiering van kolen zijn teruggebracht tot nagenoeg nul." De cijfers van Greenpeace hebben volgens een woordvoerder betrekking op energiebedrijven die deels in kolen zitten. "In de meeste gevallen heeft ING daarbij afgesproken dat de financiering van ING niet gebruikt wordt voor de bouw van kolencentrales." De zegsman tekent ook aan dat ING als grootste financiële instelling van Nederland vaker als grootste financierder uit de bus zal komen, "bijvoorbeeld ook bij hernieuwbare energie".

    Volgens Kodde lijken Nederlandse financiële instellingen wel steeds minder geld te steken in steenkool. "Ze worden voorzichtiger, maar het gaat wel langzaam. Je zou je er niet mee in moeten laten."

    www.iex.nl/Nieuws/ANP-081219-039/Gree...
  18. forum rang 10 voda 10 december 2019 20:50
    ResGen Gets Funding for Boikarabelo Coal Project in South Africa

    Resource Generation Limited announced last week that, along with its subsidiary Ledjadja Coal Pty Ltd, it had entered into two non-binding term sheets, being the equity and debt term sheets with a group of three potential funders for the funding of the Boikarabelo Coal Project in South Africa. The latest JORC estimate for Boikarabelo was measured at 995 million tonnes. For stage one of the development, Ledjadja is targeting annual coal production of 6 million tonnes per annum.

    The company also advised that work on drafting definitive legal and binding documentation based on the Term Sheets was well progressed. The later announce that the principal binding agreements for the funding of the construction of the Project by the Lending Syndicate have been executed.

    Source : Strategic Research Institute
  19. forum rang 10 voda 12 december 2019 20:22
    Credit Suisse to Stop Financing New Coal Fired Power Plants

    Switzerland’s second-biggest bank Credit Suisse announced that it will stop financing the development of new coal-fired power plants. Credit said “The bank has decided to no longer provide any form of financing specifically related to the development of new coal-fired power plants. This is in addition to the bank’s existing policy of not providing any form of financing that is specifically related to the development of new greenfield thermal coal mines. This commitment also applies to cases where the majority of the use of proceeds is intended for the development of a new coal-fired power plant or a new greenfield thermal coal mine, respectively.”

    Credit Suisse was among 10 big European banks challenged by environmental groups to sever lending to utilities which they say are developing new coal-fired power plants.

    Source : Strategic Research Institute
  20. forum rang 10 voda 12 december 2019 20:24
    Mastermyne Extends Services Contract at South32 Appin Colliery

    Mastermyne Group Limited announced that it has executed a variation to extend the completion date for the provision of outbye services to South32’s lllawarra Metallurgical Coal Operations at its Appin Colliery. The short term extension to 30 Dune 2020, closely aligns the Company’s outbye services contract with the roadway development contract also operating in parallel at the mine. The scope provides for a range of services managing outbye processes and supplementary labour in the Appin Colliery longwall area. The contract extension also allows the Company to use this time to finalise an Enterprise Agreement with its workforce.

    The contract extension is forecast to generate revenue of approximately AUD 17 million over the seven month period and will continue to employ up to 230 personnel across the combined contracts. The revenue and earnings from this contract extension has been included in the Company’s current FY2020 guidance.

    Source : Strategic Research Institute
2.845 Posts
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