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Global coal roundup: Peabody continues to see fallout from Australia mine fire

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Global coal roundup: Peabody continues to see fallout from Australia mine fire

A roundup of international coal news from Oct. 9 to Oct. 15.

While Brazil took the lead in U.S. exports of coking coal at more than 5 million tonnes over the first eight months of the year, exports to India surged to 4.1 million tonnes between January to August.

This was almost double the quantity of the year-ago period, according to U.S. Census Bureau data. India has also stepped up purchases of U.S. thermal coal. The Netherlands and Japan also saw U.S. export coking coal volumes spike.

Australia

Peabody Energy Corp. expects future financial impacts in connection with elevated gas levels and a fire at its North Goonyella Mine in Queensland, Australia, according to an Oct. 11 update.

The company previously declared force majeure on coking coal from the mine and said it would likely idle the mine for the entire fourth quarter to contain the impact of the incident. Peabody plans to provide an initial look at financial and other impacts when it announces third-quarter results Oct. 30.

Asia

China: Coking coal prices in China saw a near 6% increase Oct. 8, while coke jumped upward of 4%, as concerns about tighter supply amid longer production curbs grew following the return of investors from a weeklong holiday, Reuters reported.

Indonesia: PT Bayan Resources Tbk. produced 8 million tonnes of coal in the third quarter, 23% higher than the prior year's 6.5 million tonnes, to top its guidance for the period. The company said Oct. 10 that it remains on track to exceed its full-year guidance of between 24 million and 28 million tonnes.

Europe

Germany: German utility RWE AG has seen its share price drop almost 14% to the lowest level since early March following a surprise court order that means the company likely won't be able to expand a lignite mine in western Germany until the end of 2020. The company's lignite and nuclear generation subsidiary, RWE Power AG, said this could result in an annual loss of several hundred million euros beginning in 2019.

A higher administrative court in the city of Münster ordered RWE on Oct. 5 to halt the planned razing of several hundred acres of the Hambach Forest in the state of North Rhine-Westphalia for the period of 2018-2020 to allow more time to consider serious issues, including possible effects on a rare bat species.

This feature was updated as of 12:03 p.m. ET on Oct. 15. Some external links may require a subscription.