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Global coal roundup: Chinese coal imports up 14.9% YOY in August

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Global coal roundup: Chinese coal imports up 14.9% YOY in August

Asia

China: August coal shipments to China totaled nearly 33 million tonnes, a 14.9% year-over-year increase, Platts reported. China imported about 220 million tonnes of coal from January to August, an 8% rise from the year-ago period.

India: Workers at India's state-owned Coal India Ltd. are unhappy after the government allowed 100% foreign direct investment in coal mining, a move that would allow global companies to own mines and produce coal in the nation, Quartz India reported. Five trade unions representing Coal India employees have called for a strike later this month as a result.

* India and Russia plan to trade $30 billion annually by 2025 amidst several energy deals. Among them, Coal India will mine coking coal in Russia's Far East, Reuters reported.

Europe

Russia: Russian bank VTB Bank PJSC will discuss Mechel PAO's debt restructuring request with the international mining and steel company's creditors, PAO Sberbank of Russia and AO Gazprombank, the head of VTB said, according to Reuters. Mechel asked creditors to delay its debt repayments from 2020 to 2022 back to 2024 to 2026.

Australia

Bowen Coking Coal Ltd. said that it agreed with Rio Tinto Exploration Pty. Ltd. to amend its original purchase agreement, giving Bowen full control of the Hillalong coking coal project in Queensland, Australia. The parties agreed to terminate the right of the Rio Tinto unit to buy back 51% of the project.

* The Australia Competition and Consumer Commission wrote in a media release that the Full Federal Court dismissed its appeal on a federal court judgment related to alleged bid rigging conduct involving Cascade Coal Pty Ltd. and landowners represented by Paul and Moses Obeid. The appeal addressed whether the parties associated with Cascade and the Obeids were in competition when they withdrew a bid for Mount Penny and Glendon Brook mining exploration licenses, and the Full Federal Court determined that there was no error of law, according to the release.

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