www.unuudur.com: The latest news of Mongolia in the World

Prophecy Development Corp. has signed a joint development agreement with a Chinese partner to invest in the company’s 600 MW Chandgana coal-fired power plant in Mongolia.

According to the US Energy Information Administration (EIA), global trade of coal grew dramatically from 2008 to 2013, but in 2014, it declined for the first time in 21 years. China and India accounted for 98% of the increase in world coal trade from 2008 to 2013, but declines in China’s import demand have led [...]

Metallurgical coal production remained strong in 3Q15 at the major mining companies – particularly from Australia. But thermal coal production suffered as demand for the fuel remained weak around the world.

Once praised as the fount of eternal growth, China has become the bearer of bad news for the coal industry. The world’s second largest economy is beating up its once beloved fuel with a combination of slower growth, weak energy demand, a persistent supply glut, industrial accidents, currency devaluations and tightening environmental restrictions.

The weak global market conditions and volatility in the resource market continues to pose significant economic and funding challenges for junior and mid-tear mining companies around the world. One such company battling to survive is Mongolia focused coal company, Guildford Coal, which recently announced a change of name and debt restructuring plan.

Rapid growth in demand for energy in southeast Asia will drive strong growth in demand for coal, according to a new study from the International Energy Agency (IEA), with the fuel accounting for 50% of the energy mix in the region by 2040.

A Chinese coal producer has announced massive job cuts as it struggles against industry overcapacity and falling coal prices. Heilongjiang Longmay Mining Holding Group Co Ltd, the largest coal miner in northeast China, will layoff 100 000 words – or about 40% of its workforce.

A new report by the US Energy Information Agency (EIA) has indicated China’s coal consumption has slowed following almost a decade of fast expansion. A changing GDP, a reduction in economic growth, industry restructuring and new energy and environmental policies are reported to have all contributed to the slow down in consumption as well as [...]

As a result of decreased global coal demand, coal miners in Indonesia have reduced coal production. For the first eight months (January-August) of 2015, production declined 15.4% to 263 million t whereas in the same period in 2014, it produced 311 million t.

Contract prices for metallurgical coal are likely to remain subdued in the short term, according to National Australia Bank (NAB), as demand for seaborne metallurgical coal weakens on falling Chinese imports.

Cuts to thermal coal production around the world have helped to stabilise spot prices between US$50 and US$60 per tonne since April but weak demand will limit the chances of a price recovery in the short term, according to National Australia Bank (NAB).

Online coal trading platform, globalCoal, are to launch online trading of physical metallurgical coal on 13 October, according to a company press release.

Chinese coal imports remained weak during 1H15, when China imported 38% less coal (including lignite and anthracite) compared to 1H14. Just under 100 million t of coal was imported. As such, India is expected to supersede China as the world’s largest importer of coal.

Much has been written about the Mongolian government and Rio Tinto’s recent agreement over the Oyu Tolgoi copper deposit. But while the Oyu Tolgoi agreement is positive and welcoming news for the country and its 3 million people, I feel that its significance has been greatly exaggerated. In itself, it is not a silver bullet [...]

The Chinese coal market remains oversupplied, according to a recent research note from Marex Spectrum, with coal consumption significantly lower this year than the past two years.

Following the slump in global coal prices, the Indonesian government will postpone its plan to raise royalties for the country’s coal mines.

In association with the Rotary Club of Osborne Park and the Mongolian Red Cross Society, Aspire Mining Ltd has agreed to fund the cost of shipping medical equipment supplies from local Western Australian hospitals, which no longer require the equipment due to upgrades, to a number of Mongolian hopitals and clinics.

The Ekhgoviin Chuluu Joint Venture (ECJV) between Aspire Mining and the Noble Group has been granted two new exploration licenses, following the re-opening of the Cadestre Division of the Mineral Resource Authority of Mongolia to accept new applications.

Ten years ago, US utility industry experts would not have expected coal to rank second to natural gas in electricity generation, but that is what happened in the US in April 2015. Gas generators’ share of electricity generation for the month was about one percentage point more than the share for coal-fired plants. According to [...]

In a bid to increase state revenue and use more power generated in Indonesia, the country will impose a 1.5% tax on coal exports as of 8 August. This will be for firms with newer mining licences, known as IUPs.

Prices for Australian thermal coal have jumped almost 8% since the beginning of the month as an El-Nino related heat wave in Southeast Asia has increased demand for power, while hitting hydropower generation levels, forcing utilities to boost electricity production from alternative sources.

Talk of the demise of Australian coal production is largely political, not economic.

Mongolia’s mining sector is “well placed for continued expansion over the next few years,” according to a new report from BMI Research, “as foreign investors continue to leverage the country’s significant mineral reserves, robust infrastructure framework and proximity to major export markets, such as China.”

The Mongolian Government has confirmed that a multi-departmental working group, compromising representatives from the Ministries of Roads and Transportation, Environment, Finance and Investment Agency, has been created to negotiate a rail concession with Aspire Mining’s Northern Railways subsidiary.

According to the nation’s statistical bureau, China’s coal output in April dropped to 298 million t, a decrease of 7.4% from the same point a year ago. Declining economic growth and efforts to decrease consumption of polluting fossil fuels have hit the industry hard.

Almost all coal-fired power plants are steam power generating units based on the traditional Rankine cycle. The generation efficiency of this system has improved steadily due to a range of measures. Today’s state-of-the-art ultra-supercritical (USC) coal-fired power generating units can achieve a net energy efficiency of around 45% (LHV, lower heating value), compared to traditional [...]

Customs data has shown that China’s coal imports in the first quarter fell 42% on a year earlier, amid tepid demand and tighter quality checks.

As the use of cleaner-burning fuels and slowing economic growth drags thermal utilisation rates to a potential record low, China is reducing coal use for power generation faster than expected, implying imports and prices will fall further.

China’s smog-hit capital Beijing has shut down the third of its four coal-fired power plants as part of its campaign to cut pollution, with the final one scheduled to close next year, the official Xinhua news agency has said.

Coal futures dropped to 9-year lows this week after a short-lived rally earlier in the year, forcing many miners to produce at a loss.