A roundup of international coal news from Oct. 2 to Oct. 9.
Asia
China:
Thailand:
Glencore Plc and its partners in the Queensland-based Wiggins Island Coal Export Terminal have proposed to partially repay US$3 billion of debt to stave off a fast-approaching full repayment deadline, Reuters reported Oct. 6, citing two lenders familiar with the matter. In the event a refinancing fails to materialize by September 2018, the loan terms call for Glencore and four other partners in the terminal to pay the loan in full over the next ten years.
Anglo American Plc CEO Mark Cutifani opposed the idea of government funding to develop infrastructure for Adani Enterprises Ltd.'s Carmichael coal project in Queensland unless its competitors are also given the same, The Australian reported Oct. 4. The Anglo American chief said the government should instead provide policy certainty to the industry to make it easy to do business. "I don't think governments should be in the game of picking winners."
Adani Enterprises Ltd. may consider off-loading a minority stake in the Carmichael coal operation in Queensland to financial institutions and contractors to help raise funds, Reuters reported Oct. 3, citing Adani Australia CEO Jeyakumar Janakaraj. The company is seeking to tie-up financing for the giant Carmichael project by March 2018, with mine construction scheduled to begin in the next few weeks.
As of Oct. 6, US$1 was equivalent to HK$7.81.
This feature was updated at 11:22 a.m. ET on Oct. 9, 2017. Some external links may require a subscription.