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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.
Mongolian mining company set to benefit from Parker Ash Probe with latest software
Parker Bretby Gammatech, part of Parker Hannifin, the global leader in motion and control technologies, has secured a major new contract with Mongolyn Alt Corp. (MAK) to supply and commission an Ash Probe – Portable Ash Instrument Analyser, which includes innovative AshGraffix software.
Gobi Coal & Energy acquires advanced uranium project
Gobi Coal & Energy has announced its 100% stock acquisition of Zaraiya Holdings Ltd, which wholly owns an advanced in-situ leach uranium project in Mongolia, adjacent to AREVA. The acquisition is expected to complete in March and demonstrates Gobi Coal’s progress towards becoming a diversified multi-national energy resources company focused on high value projects. As [...]
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.
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.
Chinese policies to support higher coal prices Save to read list
Chinese government policies are expected to support a medium-term thermal coal prices of US$73 per tonne, according to a new report from Wood Mackenzie.
TerraCom signs offtake agreement for Mongolian coal
TerraCom has agreed a 5.5 year offtake agreement for hard coking coal (HCC) from the BNU coal mine in South Gobi, Mongolia, with Kingho Group, one the largest private companies in China.
Metallurgical coal spot prices reach US$209/short t
As of 22 September 2016, metallurgical coal spot price reached US$209/short t.
Coal after Paris
The December 2015 Paris Agreement aims to hold the average global temperature increase to well below 2°C and to pursue efforts to limit the global temperature increase to 1.5°C. Greenhouse gas (GHG) emissions should peak as soon as possible and then reduce rapidly after peaking, to reach a balance between GHG sources and sinks by [...]
BNEF: Coal to stay cheap
The 2016 edition of BNEF’s long-term forecast expects US$11.4 trillion investment in global power generation capacity over 25 yrs, with electric vehicles boosting electricity demand by 8% in 2040. Low prices for coal and gas are likely to continue.
Coal indispensible for energy security
Coal is a key component of a secure energy supply, according to a new study from the IEA Coal Industry Advisory Board (CIAB), which assesses the impact of coal use on energy security in several important world regions.
Rio Tinto thermal coal production falls
Rio Tinto’s thermal coal production fell by 16% on the quarter and 9% y/y as wet weather hit output at the Hunter Valley Operations in New South Wales. The fall also reflects the changed ownership structure at its Coal & Allied operations, as well as the sale of its stake in the Bengalla joint venture. [...]
Mongolian Mining Corp. defaults
Mongolian coal company, Mongolian Mining Corp., has missed a debt repayment to lenders, including BNP Paribas Singapore and the Industrial and Commercial Bank of China (ICBC), after failing to secure a waiver or forbearance agreement from the lenders.
Mongolia: the slow and bumpy road
Mining is a political business – and nowhere is this more evident than Mongolia. This landlocked Asian country has huge mineral wealth but, even at the peak of the commodities cycle, was singularly unable to develop its mining industry to any significant extent. Now parliamentary elections, coupled with the downturn in global commodity demand, look [...]
Making a case for the coal sector’s rebound
A few coal facts: 8.2 billion tpy of production; 1.3 billion tpy of seaborne-traded coal; 30% of the world’s energy mix; a necessary ingredient for making primary steel; the least expensive fossil fuel for generating electricity (fossil fuels provide 67% of global electricity). In a perfect world, coal producers with reasonable cost profiles should receive [...]
Gobi Coal & Energy expanding into other energy resources
Gobi Coal & Energy (Gobi Coal) has announced its ongoing strategic initiative to expand across the energy resources value chain into hard coking coal, coking coal mine consolidation, and graphite and uranium development and mining both inside and outside of Mongolia.
Deeper and faster coal production cuts needed
US coal companies should be far more aggressive in closing mines if the oversupply in the US market is to be resolved. Failure to do so is to miss the “fundamental point of this depressed market,” the Institute for Energy Economics and Financial Analysis concludes in a recent report into Peabody Energy’s recent financial performance.
Global growth in coal demand to slow
Global growth in coal demand will slow to just 0.5% per year over the next 20 yr, according to the latest BP Energy Outlook. This compares with growth of 3% per year over the past two decades. In contrast, global gas demand will grow by 1.8% per year over the outlook period, seeing the fuel [...]
MHPS to refurbish Mongolia’s largest thermal coal power plant
Mitsubishi Hitachi Power Systems Ltd. (MHPS) has received an order to refurbish eight units at the Ulaanbaatar thermal coal-fired power plant No.4, state owned stock company, which is Mongolia’s largest coal-fired thermal power generation plant.
China’s Shenhua becomes net exporter of coal
China’s largest coal miner, Shenhua, saw coal production fall 8.4% in 2015, according to its latest operational data released to the Hong Kong Stock Exchange. Coal sales fell by 17.9%, while coal imports collapsed by 97.1% to just 200 000 t – and nothing in December 2015.
US coal production for 2015 off 13% from 2014
According to the latest reports from the US Energy Information Agency (EIA), coal production in the US finished 2015 off approximately 13% from 2014 totals. Meanwhile spot prices for coal continue their long-term decline and natural gas slipped back slightly from recent highs.
Chinese coal demand heads lower on high renewables growth
China is turning away from coal it a faster-than-expected pace, according to new figures from the China National Energy Agency, as the country’s economic slowdown reduced electricity demand growth. Official GDP growth was 6.9% in 2015, its lowest level in a quarter of a century, but many analysts believe that the actual rate of growth [...]
Global Trends in coal to 2020
Over the next five years, the global coal industry is expected to witness a fundamental structural change to the seaborne market: a move away from Chinese led demand growth. The last 10 yr have seen significant growth in the global seaborne market. But with global production seeming to have peaked in 2014, serious issues remain [...]
Analysing Longmay’s workforce reduction
In September 2015, Longmay Group, one of the large, Chinese state-owned metallurgical coal miners based in Heilongjiang Province, announced plans to reduce the headcount of its coal mining operations by approximately 100 000 during the following three months. The headcount reduction will be achieved through a combination of mine closures of old mines with depleting [...]