A roundup of international coal news from May 21 to May 28.
South America
Colombia:
Europe
United Kingdom:
Asia
China:
India:
Samir Cairae, CEO of Vedanta Ltd.'s metals business in India, warned that the company may reduce aluminum output if limits on coal supplies to the country's nonpower sectors continue for another week, Bloomberg News reported May 24. The limited coal supply is a result of a government directive to prioritize coal deliveries to power stations as India's private and public thermal power plants face severe coal shortages amid rising electricity demand, Mining Weekly reported the same day.
Australia
Stanmore Coal Ltd. declared a maiden JORC-compliant reserve for its Isaac Plains underground mine at the Isaac Plains coal complex in Queensland's Bowen Basin region in Australia. The JORC-compliant estimate includes probable run-of-mine reserves of about 13 million tonnes, according to the May 28 release.
Whitehaven Coal Ltd. said May 24 that it has signed a deal to acquire the remaining 25% stake in the Winchester South coal development project in Queensland, Australia, after it agreed in March to pay US$200 million for acquisition of a 75% interest in the project from Rio Tinto. The acquisition price will be consistent with the previous deal and the company expected to complete both transactions in the second half and to start project development afterward.
Adani Enterprises Ltd. enlisted Rothschild to help sell a stake in its Abbot Point port operations in Queensland, Australia, a move that sources familiar with the matter said could help the company raise funds for the Carmichael coal project in the same state, The Sydney Morning Herald reported May 22. Sources said Adani is also understood to be looking for a second investment bank to help with the stake sale, but they did not give further details on potential candidates or the planned sale.
Australia's federal environment department has decided to evaluate the development proposal for Waratah Coal Pty. Ltd.'s Alpha North coal project in Queensland. The proposal includes construction and operation of a coal mine, comprising underground longwalls and open-cut pits, and associated infrastructure.
Bowen Coking Coal Ltd. said May 21 that it will sell its Comet Ridge coal project in Queensland, Australia, to Springsure Creek Coal Pty. Ltd. Springsure Creek is required to pay A$100,000 in cash and grant a royalty stream of 1.25% of free on rail revenue from the first 2.8 million tonnes of coal produced from the project.
As of May 25, US$1 was equivalent to 6.39 yuan.
This feature was updated as of 11:50 a.m. ET on May 28. Some external links may require a subscription.
