(EnergyAsia, March 9 2012, Friday) — Australia’s Altona Energy said it has completed the acquisition of a 95% interest in two advanced coal exploration licences in China’s Xinjiang Uygur Autonomous Region. The AIM, England-listed energy company said it has agreed to pay a total of £13 million in tranches conditional on the achievement of development (more…)
(EnergyAsia, March 9 2012, Friday) — US coal miner Peabody Energy has announced a new global organisational structure by creating geographic business units in the Americas, Australia and Asia to reflect the growing size and scope of the company’s global footprint. The St Louis, Missouri-based company said the new organisation positions will handle amid unique (more…)
EnergyAsia, March 9 2012, Friday) — Indonesia’s Minister of Energy and Mineral Resources, Jero Wacik, recently launched two newly completed units of the expanded Tanjung Jati B coal-fired power plant in Central Java. Built by a Sumitomo Corporation-led consortium and operated by PT PLN, Indonesia’s state-owned power utility, the plant’s units 3 and 4 will (more…)
(EnergyAsia, March 9 2012, Friday) — The World Coal Association (WCA) has called for European Union (EU) to drive down the costs of low-carbon technologies and incentivise the improvement of power generation efficiency, especially at coal-fired power plants. Participants at last week’s industry roundtable at the European Parliament, jointly held by WCA and Member of (more…)
(EnergyAsia, March 8 2012, Thursday) — China is beefing up its coal logistics system to improve the delivery, storage and handling of the fuel to meet the country’s rising energy demand. Last year, its rail system delivered more than 2.27 billion metric tons of coal last year for a 13.4% increase over 2010, said the...
(EnergyAsia, March 8 2012, Thursday) — German specialty chemicals firm LANXESS has announced that it will proceed to invest another 200-million-euro to build a second new neodymium polybutadiene rubber (Nd-PBR) plant in Singapore on September 11 this year. LANXESS is targeting the 140,000-metric ton/year plant on Jurong Island to start up in the first half (more…)
(EnergyAsia, March 8 2012, Thursday) — Canada’s Prophecy Coal Corp, which is developing coal and power projects in Mongolia, said it has raised US$9 million from the sale of 20 million shares at US$0.45 through a non-brokered private placement. The Vancouver, British Columbia-based company said it paid a finder’s fee for the deals in accordance (more…)
(EnergyAsia, March 8 2012, Thursday) — Online trading platform operator globalCoal said it has signed up another three companies to its international thermal coal network. Ankor Holding Ltd, Avalon Coal and Enegra Pte Ltd are all involved in the international energy trade including coal. Ankor Holdings is a commodities trading company focusing on coal, crude (more…)
(EnergyAsia, March 8 2012, Thursday) — Australia’s WestSide Corporation Limited has revealed LNG Limited as the party that had offered to acquire all its shares for A$0.65 each for a total of A$165 million in cash. (US$1=A$0.94). The proposed takeover came to light when Westside issued a statement to the Australian Securities Exchange (ASX) on (more…)
(EnergyAsia, March 7 2012, Wednesday) — Mechel OAO, a leading Russian mining and metals companies, said a subsidiary has suspended operations at the New-Olzherassk underground mine in Siberia for the second time in less than a month. Southern Kuzbass Coal Company OAO stopped work after detecting high levels of carbon monoxide at the mine’s long (more…)
(EnergyAsia, March 7 2012, Wednesday) — German chemicals giant BASF has announced that it has established “new ambitious environmental, health and safety goals.” The company wants to increase its energy efficiency – defined as the amount of sales products in relation to the primary energy demand – worldwide by 35% by 2020, compared to the (more…)
(EnergyAsia, March 7 2012, Wednesday) — US-based Duke Energy said it and China Huaneng Group have signed a three-year agreement expanding their research cooperation in the areas of advanced coal and carbon capture and sequestration technologies. The agreement builds on a memorandum of understanding the companies signed in 2009 to pursue high-level discussions and information (more…)
(EnergyAsia, March 7 2012, Wednesday) — The much awaited listing of Mongolia’s state coal mining firm Erdenes Tavan Tolgoi (ETT) could be delayed again, possibly to October, as the government is still unsure what it wants to achieve and how much control it plans to retain after selling an unspecified portion to international investors. Reports...
(EnergyAsia, March 7 2012, Wednesday) — There will be no let up in China’s growing coal appetite for power generation over the next few years despite rising prices and supply shortages for the fuel. By 2015, the country will burn 4.3 billion tons of coal to generate power, up from 1.95 billion tons in 2011,...
(EnergyAsia, March 6 2012, Tuesday) — India’s privately owned Adani Group is planning to beef up its energy portfolio with plans to invest a total of US$6 billion in developing coal assets and activities in Australia and Indonesia over the next three years, and acquire BG Group’s 65% stake in India’s Gujarat Gas Co for...
(EnergyAsia, March 6 2012, Tuesday) — Financing and bureaucratic hurdles are delaying resource-rich Mongolia’s ambitious plan to build a multi-billion-dollar 5,700-km railway network to lift its landlocked economy out of poverty. The proposed network is aimed at linking many of the country’s coal, gold, copper and rare earth metals mines dispersed across its vast landscape to...
(EnergyAsia, March 6 2012, Tuesday) — Australia’s AGL Energy said it has agreed to acquire the remaining 67.46% stake in Victoria state’s largest power station, Loy Yang A, and an adjacent coal mine for a total of A$448 million that it does not own. (US$1=A$0.94). Subject to regulators’ approval, AGL expects to complete the acquisition (more…)
(EnergyAsia, March 6 2012, Tuesday) — Adani Enterprises, a member of India’s privately owned Adani Group, said it has signed five agreements to supply a total of four million tonnes of imported coal to NTPC, the country’s largest power generation company. Adani Enterprises will supply the coal to NTPC’s 14 power stations across India between (more…)
(EnergyAsia, March 6 2012, Tuesday) — Mongolian Mining Corp (MMC) said it has doubled its coal production capacity after receiving approval from the State Commission to start up the second five-million-ton/year module of a coal handling and preparation plant. The US$91 million plant at its Ukhaa Khudag coking coal mine in Mongolia’s South Gobi desert (more…)
(EnergyAsia, March 5 2012, Monday) — The following is an edited version of an article by Jean-Marie Martin Amouroux, a member of the scientific board of consulting firm Enerdata. The competition for oil, gas and coal reserves around the world is intensifying and increasingly driven by players in Asia. Oil remains the leading fuel source,...
(EnergyAsia, March 5 2012, Monday) — Boosted by surging electricity consumption and rising steel production, China’s net coal imports rose by 15.2% to a record of over 167 million tonnes in 2011. According to the National Development and Reform Commission (NDRC), China’s coal deficit widened as it imported more than 182 million tonnes of coal...
(EnergyAsia, March 5 2012, Monday) — Global energy price reporting agency Argus said it has introduced a weekly FOB Newcastle 5,500 kcal/kg NAR (net as received) within 90 days assessment in addition to its existing FOB Newcastle 6,000 kcal/kg NAR within 90 days assessment. The new assessment is being launched in response to industry feedback (more…)
(EnergyAsia, March 5 2012, Monday) — The World Coal Association (WCA) said Caterpillar Global Mining, a unit of world leading mining equipment manufacturer Caterpillar Inc, has joined as a corporate member from January 2012. With Caterpillar’s addition, the WCA has raised its membership which includes major coal producers, national coal associations and other non-profit bodies (more…)
(EnergyAsia, March 5 2012, Monday) — Japan’s Toshiba Group said an Indian subsidiary has been awarded a contract to supply three 800MW supercritical steam turbine and generator island packages for a coal-fired thermal power plant in Kudgi in India’s Karnataka state. NTPC Limited, India’s largest state-owned energy service provider, awarded Chennai-based Toshiba JSW Turbine and (more…)
(EnergyAsia, March 2 2012, Friday) — Singapore’s marine and industrial conglomerate Sembcorp Industries said its net profit grew 2% from S$792.9 million in 2010 to S$809.3 million in 2011, while turnover was up 3% from S$8.8 billion to S$9 billion. (US$1=S$1.25) Its best performers continued to be its utilities and marine businesses, which accounted for (more…)