Global Coal Roundup: Stanmore secures $625M debt facility to fund deal with BHP

Australia

* Stanmore Resources Ltd. secured a $625 million debt facility to partially fund its acquisition of BHP Group's 80% stake in BHP Mitsui Coal Pty. Ltd. BHP Mitsui Coal is a joint venture between BHP Group and Mitsui & Co. Ltd. that owns the South Walker Creek and Poitrel mines in Queensland, Australia.

Europe

Companies in Europe's emerging hydrogen economy received long-awaited regulatory clarity from the EU as 2021 came to a close, with proposals around a market framework laying the foundations for growth. The European Commission's Hydrogen and Decarbonized Gas Package was published Dec. 15, 2021.

Czech Republic:

* The Czech Republic committed to exiting coal generation by 2033, five years ahead of a formal recommendation of the coal commission established by the previous government. The chosen exit year is the earliest of three phaseout scenarios offered by the coal commission, which assumes an Emission Trading System price of €30 per tonne in 2030 and modest growth in renewable energy production.

Asia

China:

* China's booming domestic coal production may help the nation weather disruptions from an Indonesian export ban and a prolonged trade dispute with Australia. China ordered domestic coal producers to boost production in 2021 amid a broader energy crisis that was exacerbated when it stopped buying coal from Australia, which was previously a major supplier.

Indonesia:

* Indonesia's President Joko Widodo threatened to revoke the export and mining business permits of coal producers failing to meet their domestic market obligation, which requires them to supply 25% of their annual production to the local market, S&P Global Platts reported.

* Major Indonesian mining companies are ready to commit a cumulative domestic supply of 2.9 million tonnes of coal in the hope that it would lead to an early revocation of the ban on thermal coal exports, Platts reported, citing anonymous sources involved in negotiations.