* Global coal demand will remain stable in the next five years despite a decline in production in 2019, thanks to growing appetite among Indian and other Asian countries, S&P Global Market Intelligence reported, citing analysis by the International Energy Agency. The report said the collapse of EU coal imports and the competition brought by Russian producers will cause coal miners in the US and Colombia to struggle. Meanwhile, demand for the fuel in China is expected to increase slightly before stagnating around 2022, according to the report.
Australia: Financial difficulties that resulted from falling metallurgical coal prices prompted Bounty Mining Ltd. to shut down its Cook mine in Queensland. The Sydney-based firm, which produced a record 174,951 tonnes of coal in the July-to-September quarter from the mine plant, cited "depressed coking coal prices" and "production shortfalls in the wake of the previously announced roof falls" as among the reasons behind the closure.
South Korea: South Korea’s thermal coal imports declined 10.4% to 8.66 million tonnes in November, S&P Global Platts reported, citing data from the Asian producer’s customs administration. The closure of up to 15 coal-fired power plants in the country for three months starting December affected imports during the period, according to the report.
Indonesia: Indonesia’s PT Bukit Asam Tbk eyes to further increase its coal production from this year’s 28.5 million tonnes to 30 Mt in 2020, Reuters reported Dec. 23, quoting the state-owned firm's director. The company official said that 60% of the targeted production will go to PLN, a state power utility business also owned and run by the Indonesian government, while 30% will be exported mostly to India, according to the report.
Canada: Canada and the United States recently signed a memorandum of understanding setting up a framework in line with an initiative to address growing global demand for energy mineral resources. This is the second agreement under an initiative introduced by the U.S. in June, wherein participating countries seek to have an even global playing field for critical energy mineral development and distribution.
Germany: Different factors, including weak fuel complex and growing market share for renewables, will likely pressure power costs in Germany, S&P Global Platts reported, citing insights from market participants. Citing its analytics findings, S&P Global Platts said the country's discount wholesale power price status will begin to destabilize in 2020.
United Kingdom: The U.K.’s Oil & Gas Authority introduced "UK Continental Shelf Energy Integration," an "integrated vision" laying out ways on how the upstream industry can help the country in achieving its net-zero emission target by 2050. The initiative includes proposals to repurpose nonfunctioning platforms and integrate oil and gas facilities with wind and subsea interconnectors.