Coal exporters should fret as China, India become policy-driven markets: Russell
May 17 Coal exporters may be feeling more comfortable about their future as they see both reasonable demand from Asia’s top importers and prices which appear to be stabilising at levels that allow for decent profits.
Mongolia says it grows 4.2 pct y/y in Q1, lifted by higher coal prices
May 16 Mongolia’s economy, which grew only 1 percent in 2016, expanded 4.2 percent in the first quarter from a year earlier, buoyed by the coal sector’s turnaround, government data showed on Tuesday.
Nuurstei project mine development funding update
Mongolian metallurgical coal explorer and infrastructure company, Aspire Mining Limited (ASX: AKM, the company or Aspire), has announced that it has received an Expression of Interest (EOI) to fund a modular coal handling and processing plant (CHP) proposed to be established at the Nuurstei coking coal project (Nuurstei Project) mine.
Mongolia Energy says it has suspended mining works in Khushuut coal mine
Have suspended our mining works relating to overburden removal and coal excavation in khushuut coal mine for saving operation costs
Coking coal price slumps again
The price of coking coal plunged again on Monday with the industry benchmark price tracked by the Steel Index dropping 6% or $12.40 to $199.40 a tonne as the impact of supply disruption following tropical storms in Australia appears to have been less than previously thought.
China’s coal imports take temporary hit from Australian cyclone: Russell
China’s coal imports from the seaborne market fell in April, with top exporting countries unable to fully cash in on the loss of Australian shipments in the wake of a powerful cyclone that knocked out mines and infrastructure.
Coking coal price correction turns into crash
The price of coking coal plunged again on Friday with the industry benchmark price tracked by the Steel Index dropping 9% or $26.10 to $263.40 a tonne as supply disruption following tropical storms in Australia begin to ease.
Post cyclone coking coal price plunge
The price of coking coal dropped sharply on Thursday with the industry benchmark price tracked by the Steel Index losing 4.6% to $289.50 a tonne as supply disruption following tropical storms in Australia begin to ease.
Aspire Mining study results support open cut coal mine
Aspire Mining (ASX:AKM) has received results from a conceptual mining study evaluating the viability of a mining operation at its 45% owned Nuurstei Coking Coal Project in Mongolia.
Coking coal price jumps to six-year high
The price of coking coal gapped higher again on Thursday with the industry benchmark price tracked by the Steel Index surging 4.6% to $314.00 a tonne due to continued supply outages following tropical storms in Australia.
Coking coal price soars past $300
The market for coking coal took another leap on Monday with the steelmaking raw material surging more than 6% to $300.30 (Australia free-on-board premium hard coking coal tracked by the Steel Index), a 19-week high.
Coking coal price close to $300 a tonne on Australian disruptions
Coking coal prices closed the week 86% higher, climbing 34% on Friday alone to $283.10 a tonne, after damage caused by a cyclone that struck Australia’s north-east coast in late March has put supply at risk.
Mongolian Mining Chapter 15 Bankruptcy Restructuring
Ulaanbaatar, Mongolia-based Mongolian Mining filed for Chapter 15 protection with the U.S. Bankruptcy Court in the Southern District of New York, case number 17-10695. The Company, which engages in mining, processing, transportation and sale of coal products in Mongolia, is represented by Timothy E. Graulich of Davis Polk & Wardwell.
China’s coal consumption keeps plummeting, down for 3rd year in a row
China’s coal consumption dropped in 2016 for a third year in a row, official data showed Tuesday, as the world’s top consumer and producer of the fossil fuel continued tightening environmental rules aimed at dealing with pollution.
China’s coal imports from North Korea ease after sanctions
China’s coal imports from North Korea eased last month after new U.N. Security Council sanctions curbing the isolated country’s sales abroad came into effect, while Russia, Mongolia, Australia and Indonesia raised shipments, data showed on Friday.
Aspire Mining signs agreement for the advancement of Ovoot railway
Mongolian metallurgical coal explorer and infrastructure company, Aspire Mining Limited, has, through its rail subsidiary, Northern Railways LLC (Northern Railways), signed a Memorandum of Understanding (MOU) with Ulaanbaatar Railways JSC (UBTZ) to cooperate on a number of matters to progress the commercialisation of the Erdenet to Ovoot Railway.
China may tighten up coal output curbs again as prices collapse
China may soon reinstate coal production curbs in an effort to avoid the return of an oversupply and improve the profitability of its heavily indebted coal industry.
Coking coal resumes sharp decline
After a pause last week (and even a small move higher) following 12 weeks of non-stop selling, the rout on coking coal markets resumed on Tuesday. The steelmaking raw material fell 4.7% to $154.80 on the day, the lowest since early September.
Ingenious clean coal plant could give new life to coal
NRG Energy and JX Nippon Oil & Gas Exploration Corp. have successfully developed a power plant that runs entirely on clean coal. The Petra Nova power plant located in Texas was activated on January 10th and is the first of its kind in the United States to be used to power the grid. The facility [...]
Coking coal’s bubble deflates, China’s imports from North Korea remain key: Russell
If you wanted to see what a speculative commodity bubble looks like, then coking coal’s huge rally in the second half of last year and subsequent retreat provides a good example.
In latest move, China halts over 100 coal power projects
China’s energy regulator has ordered 11 provinces to stop more than 100 coal-fired power projects, with a combined installed capacity of more than 100 gigawatts, its latest dramatic step to curb the use of fossil fuels in the world’s top energy market.
RSI Review on Shares of Mongolian Mining Cor
Investors are tracking indicators on shares of Mongolian Mining Cor (MOGLF). The current 14-day RSI is 50, the 7-day is at 43.77, and the 3-day is resting at 31.3. Many investors look to the Relative Strength Index (RSI) reading of a particular stock to help identify overbought/oversold conditions. The RSI was developed by J. Welles [...]
Coking coal price crashes through $200
It’s only been a week of trading, but the year to date fall in the price of coking coal has already reached 17%. The steelmaking raw material is also now $120 below its multi-year high of $308.80 per tonne (Australia free-on-board premium hard coking coal tracked by the Steel Index) hit in November.
Erdenet to Ovoot Railway determined feasible
Mongolian metallurgical coal explorer and infrastructure company, Aspire Mining Ltd, has, through its rail subsidiary, Northern Railways LLC (NR), received the first stage feasibility study from China Railway First Survey and Design Institute Group Co. Ltd (FSDI) for the Erdenet to Ovoot Railway in Mongolia.
Coking coal price correction turns into rout
It’s only the 5th, but the year to date fall in the price of coking coal has already reached 8%. The steelmaking raw material is also a round $100 below its multi-year high of $308.80 per tonne (Australia free-on-board premium hard coking coal tracked by the Steel Index) hit in November.