Steel Guru

Google scraps renewable energy cheaper than coal initiative

2011-11-29T01:59:00.001-08:00

Google is in the midst of some, as they call it, spring cleaning out of season. They are shutting down a number of projects that haven’t quite hit the mark the way they had hoped.

Unfortunately for the environment, Google’s four year long “Renewable Energy Cheaper than Coal RE” project is in the trash bin. The original premise was to invest in solar technology with the hope of driving down the price of renewable energy. Now, the technology powerhouse has decided that others are in a better position to continue the work. As they wrote on their blog, Google published their results “to help others in the field continue to advance the state of power tower technology, and we’ve closed our efforts.”

This doesn’t mean that they are turning their backs on all things green. They reported on the blog, “We will continue our work to generate cleaner, more efficient energy including our on campus efforts, procuring renewable energy for our data centers, making our data centers even more efficient and investing more than USD 850 million in renewable energy technologies.”

Other projects to bite the dust include Google Wave, Google Friend Connect and Google Search Timeline.

(Sourced from www.ecorazzi.com)

Blastcrete Equipment introduce new mine mate machine

2011-11-29T01:55:00.001-08:00

Blastcrete Equipment has introduced the Mine Mate, designed to mix and pump concrete material for underground mine sealing and stabilisation, grouting and various other shotcrete applications. The Mine Mate is a convenient solution when ready-mix concrete is not an option. Featuring Blastcrete’s X-10 ultra-high pressure swing tube pump, it is a highly productive and reliable machine that’s also easy to operate and maintain.

The Mine Mate uses the wet-mix shotcrete process. It was created at the request of several customers seeking a machine to apply shotcrete in underground coal applications. In contrast to the dry shotcrete (gunite), the wet shotcrete process minimises dust emissions and improves visibility making it much safer, particularly for underground use. Of compact configuration, the Mine Mate is designed for operation within a 1.2 m ceiling.

Trafigura to boom as giant Mongolia awakens

2011-11-08T22:12:00.000-08:00

Trafigura Beheer BV plans to expand in Mongolia to deliver more iron ore, coal and copper to the China market.

Mr Mikhail Zeldovich head of Trafigura’s Russia and Mongolia unit said that it secured its first iron ore and coal supply agreements in the country in the past few months. Talks on more accords are in progress and Trafigura’s first Mongolian tin shipment is due this week.

Mr Zeldovich said that “In all commodity businesses I anticipate strong growth and in the bulk commodities of coal and iron ore I am targeting a multiple of what we already have. We very much see Mongolia as a sleeping giant of resources that’s now beginning to awaken.”

According to Ulan Bator based Trade and Development Bank, Mongolia in June surpassed Australia as the biggest seller of coking coal to China and total exports are due to rise by 65% this year. Rio Tinto Group will begin commercial output from the Oyu Tolgoi mine in 2013 a deposit in central Mongolia that it says is one of the biggest untapped sources of copper and gold.

A mining boom in the world’s most sparsely populated nation promises the greatest influx of wealth for Mongolia since Genghis Khan conquered most of Europe and Asia in the 13th century. Economic growth may surge to 23% in 2013 more than twice the forecast expansion in China, as mining projects begin production, the International Monetary Fund said in April.

Mr Zeldovich said that last year, Amsterdam based Trafigura provided more than USD 40 million in financing to help start production at a lead and zinc mine in eastern Mongolia in exchange for an off take accord. The trader has also invested in a trucking company in Mongolia to transport coal from producers including Mongolyn Alt Group to China. It ranks among the top three sells of copper in Mongolia.

Coal extraction in Bangladesh from proven reserve unlikely within 2 yrs

2011-11-08T22:09:00.000-08:00

Experts said that commercial extraction of the country's proven coal reserve is unlikely to start, at least within the next couple of years, despite the desperate national needs for use of this fossil fuel to generate electricity.

According to them, the government's target to generate 20,000 MW power by 2021 would be difficult to achieve without the use of coal, as the cost of petroleum oil as an alternative source of fuel for electricity generation, remains high.

A parliamentary standing committee on the ministry of energy recently made its recommendations in favour of open-pit mining for extraction of coal. However, the authorities concerned are still waiting for a detailed report from a newly-formed expert committee.

The 15 member expert committee, headed by former Petrobangla Chairman Mosharraf Hossain is expected to submit its detailed report, by February next.

However, a detailed study on various aspects including comparative problems and prospects of both open pit and underground mining, may take a longer time.

Bangladesh has five coal fields in the northern region, comprising Barapukuria, Phulbari, Khalaspur, Dighipara and Jamalganj with a total estimated reserve of more than 3.0 billion tonnes, officials of the ministry of power, energy, and mineral resources said.

The committee will consider the geological structure, depth, aquifer, financial and environmental impacts of the coalmines to recommend appropriate mining method for each of them, a senior energy ministry official said.

The committee will also estimate the expected financial loss to be faced by the people around the coalmines and subsequent compensation to be given to them by the government.

Prof. Mohammad Hussain Mansur chairman of Petrobangla told the FE that "To have details on various subjects and aspects, the committee may take more than the stipulated time.”

The Petrobangla chief said that "The authorities concerned will have to perform a huge task of removing and rehabilitating the affected people, even before the start of any mining operation.”

Prof. Mansur said that "Simultaneously, the authorities will also need to set up coal-fired power plants so that the extracted coal can be utilised; otherwise, there may be accidental fire causing an extensive damage.” He added that "Coal stocks often cause disasters by catching fire.”

He said preparations for coal mining, including rehabilitation of the affected people, setting up of power plants simultaneously, will be a tough task for an impoverished country like Bangladesh.

(Sourced from FE)

China to boost its domestic iron ore supply - Report

2011-11-08T22:06:00.000-08:00

Economic Observer quoted sources with the China Iron and Steel Association said China will boost the domestic supply of iron ore to a large extent during the 12th Five year Plan period (2011-15) in order to rely less on the three world mining giants Vale, Rio Tinto and BHP Billiton.

The sources said the percentage of domestic supply will rise to over 45% by 2015 a substantial rise from the level of 32% in 2010.

Mr Ding Gen senior analyst with custeel.com said that a 13% rise in supply was possible.

Mr Rong Gang chief economist with hbh-steel.com told the Global Times that steel has become a pillar industry in China, having contributed a lot to the fast growth of its economy. China consumes an annual average of 700 million tons of crude steel.

As more than half of China iron ore demand is met through imports, primarily from Brazil and Australia, the pricing of iron ore has become a heated issue.

Mr Luo Tiejun an official with the Ministry of Industry and Information Technology said that a supply guarantee system for iron ore would be written into the steel industry's five year plan and that iron ore supply would be regarded as an issue of national security a move welcomed by industry insiders.

He said that "In 2010, the profits of the big three exceeded the total profits of the 78 largest Chinese steel producers."

Dominance of the global market by the big three firms has resulted in limited profit margins for Chinese steel producers.

(Sourced from Economic Observer)

China may implement protective development of coking coal

2011-11-08T22:01:00.000-08:00

It is reported that at the China Mining Congress & Expo 2011 held at November 6 to 8 in Tianjin Meijiang Convention and Exhibition Center, a market player has stated that China may implement protective development of coking coal.

China-based National Energy Administration is studying and

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Heron Resources stars drilling at Shay Gap project

2011-11-06T23:24:00.001-08:00

Heron Resources has commenced a reverse circulation reconnaissance drilling program at its 100% owned Shay Gap Iron Ore Project in the Pilbara, Western Australia, targeting Detrital and Channel Iron Deposits.

The Shay Gap Project, which covers 290 square kilometres, is located about 160 kilometres east of Port Hedland, and directly south-west and adjacent to the Yarrie-Cundaline Ridge iron ore mines, operated by BHP Billiton.

Previously reported Heron rock chip samples returned iron grades up to 68% from surficial detrital material shed from the ranges and gravity surveying has defined a number of encouraging “highs” along the range front.

The company recently completed Heritage Agreements with the Traditional Owners. The drilling will map the iron-enriched regolith and test for the source of the gravity anomalism.

(Sourced from www.proactiveinvestors.com.au)

Athena Resources drilling extends high grade magnetite at Byro Iron Ore Project

2011-11-06T23:16:00.000-08:00

Athena Resources latest drilling has expanded the high grade magnetite horizon at the Byro South and Whitmarsh Find prospects within the Byro Iron Ore Project.

All drill assay and rock chip results indicate the magnetite iron ore is of similar high grade and quality at FE1, Byro South and the Whitmarsh Find ore bodies.

Magnetite intersections at Byro South include:
- 10 metres at 31.48% iron from 58 metres;
- 26 metres at 31.54% iron from 80 metres; and
- 18 metres at 35.69% iron from 90 metres.

At Whitmarsh Find magnetite was also intersected with results including 24 metres at 32.76% iron from 52 metres.
The 1,811 metre drill program comprised 14 reverse circulation drill holes and two geotechnical / metallurgical PQ/NQ diamond core holes, with targeting based on high definition aeromagnetic signatures and surface outcrop mapping and sampling.
The highly prospective Byro Project is in the Mid-West region of Western Australia. It is strategically located 100 kilometres west of the proposed Midwest Iron Ore Railway which is planned to link existing and future iron ore projects in the Mid-West Region to the proposed Oakajee deep water bulk shipping port north of Geraldton.
(Sourced from www.proactiveinvestors.com.au)
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Adaro Energy sees rising coal production

2011-11-06T23:10:00.001-08:00

Indonesia’s second biggest coal miner Adaro Energy aims to produce 53 million to 55 million tonnes of coal in 2012, up from 46 million to 48 million tonnes forecast for this year.

Mr Garibaldi Thohir president director of Adaro said that he expected the company to maintain an average

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Salmon River ink MoU with General Steel Holding

2011-11-06T23:09:00.001-08:00

Salmon River Resources Ltd announced that it has signed a non binding MoU with General Steel Holdings Inc a company listed on the New York Stock Exchange, for itself and on behalf of certain subsidiaries and affiliates regarding rights to purchase part of any future iron ore production from

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Indian white coal gains popularity in Europe

2011-11-06T23:08:00.001-08:00

Commodity Online reported that the white Coal produced from agricultural waste in Rajasthan has gained popularity in European countries.

The white coal produces very low level of carbon which helps to protect the environment as result the demand for the commodity has been rising in Europe

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Rio Tinto and University of Western Australia developing advanced exploration technology

2011-11-06T23:07:00.001-08:00

World leading mining exploration technology from Rio Tinto's Mine of the FutureTM program attracted a visit today from His Royal Highness The Duke of Edinburgh as a prelude to the Commonwealth Heads of Government Meeting in Perth.
br>At The University of Western Australian His Royal Highness
br>Read More

Mitsubishi Corp reports H1 net profit fall

2011-11-06T23:02:00.000-08:00

Japanese trading house Mitsubishi Corp said that its net profit for the six months ended September 30 fell 8.3% from a year earlier, citing lower margins from trading in natural resources and steel.

Mitsubishi, Japan's biggest trading house by revenue, also said it has decided to invest

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Chinese coal prices up by 2pct

2011-10-20T23:40:00.001-07:00

China's raw coal prices edged up further last week, buoyed up by increased demand from coal consumers for winter use, the Ministry of Commerce was cited as saying.

The demand for the fuel has escalated as coal consumers try to stockpile ahead of a frosty winter. Power plants in South China also accelerated purchasing activity, which gave another push for the price hike. The price of lignite, soft coal and anthracite was up by 2.8%, 1.5% and 1.3% respectively.

Industry sources reported that the price of thermal coal produced in Shanxi province increased by 2.1% at Qinhuangdao port on October 14 compared with a week earlier.

Bohai-Rim Steam-Coal Price Index, or BSPI gained by CNY 10 to CNY 842 compared with the previous week. The weekly gauge tracks power-station coal prices at six major Chinese ports.

(Source: www.steelhome.cn/en)
China steel information centre and industry database

Zimbabwe Hwange Colliery plans to ship coal through Maputo

2011-10-20T23:38:00.001-07:00

Bloomberg cited Mr Oliver Maponga Business Development Manager as saying that Hwange Colliery Ltd Zimbabwe largest coal miner plans to ship 30,000 to 50,000 tonnes of coal a month through Mozambique’s port of Maputo.

Mr Maponga said Hwange is in talks with port authorities after starting to use Mozambique central Beira port last year. The company which produces 400,000 tons of coal a month is studying markets in India China and Western Europe.

(Sourced from Reuters)

Why Baltic index edging higher

2011-10-20T23:36:00.000-07:00

Reuters reported that the Baltic Exchange main sea freight index which tracks rates to ship dry commodities inched higher recently although a potential pullback in Chinese iron ore imports would put the put the brakes on a recent rally in the larger capsize market.

Brokers said the market was watching to see if weaker than expected Chinese economic data issued on Tuesday would signal a pullback in raw materials demand which would dent the dry freight market already struggling with a glut of vessels. The overall index rose 4 points to 2,140 points.

Mr Erik Nikolai Staveseth Arctic Securities analyst said "We still think rates in the Capesize segment will remain firm going forward. Imported iron ore prices are on the decline and rapidly coming in competition with lower grade domestic ore which will shift the pendulum towards imports."

Mr Jeffrey Landsberg managing director of dry bulk consultancy Commodore Research said a fall in Chinese s
eel prices this week could put pressure on Capesize rates. He said that "If prices continue to decrease and stockpiles stay high, near term Chinese steel production would remain likely to suffer a decline."

He added that "In addition, Chinese iron ore production has remained robust which is putting pressure on global iron ore prices and Chinese iron ore fixture volumes this week."

The recent dry freight market rally had been driven by firmer coal and iron exports from Australia and Brazil to China which boosted the larger Capesize market. Coal imports into Japan have also picked up. Manufacturing in Australia had been disrupted earlier this year by floods while Japanese industrial raw materials import demand had been affected by an earthquake in March that crippled a nuclear plant and threw Japan economy into disarray.

In August, the overall index which gauges the cost of shipping commodities including iron ore, coal and grain dropped to its lowest in more than three months after falling for 18 consecutive sessions. It has remained erratic and is still over 20% down from the same period last year.

(Sourced from Reuters)

S Korea WP seeks 260000 tonnes coal for Nov to Dec

2011-10-20T23:28:00.001-07:00

Reuters quoted the utility said Korea Western Power Co Ltd is seeking 260,000 tonnes of bituminous coal for arrival between November 15 and December 15 through a spot tender.

The utility said the tender for NCV minimum 5,600 kilocalories per kilogram bituminous coal supply to Taean Power Plant will close at 2 PM on October 20.

(Sourced from Reuters)

African Minerals to ship iron ore from Tonkolili mine in Sierra Leone by end October

2011-10-20T23:25:00.001-07:00

Reuters quoted the London listed metals explorer and developer said African Minerals Ltd will start exporting iron ore cargoes to China and Europe from its Tonkolili mine in Sierra Leone at the end of this month.

The company commenced mining iron ore in Sierra Leone in December 2010 and has since stockpiled material. Iron ore exports will start this month and African Minerals expects to export about 1.2 million tonnes of iron ore during the current fourth quarter.

Mr David Tucker its head of sales and marketing said "We have three cargoes programmed for China and one cargo programmed for Europe. He said that we are selling some trial cargoes, but really the intention is from those trial cargoes to cement long-term off-take agreements with partners."

He said that African Minerals is currently in talks with European Chinese and Asian steelmakers to sign more off take agreements. He added that we are not tied to a specific index but our initial contracts reference the Platts index."

He also said "We are talking about something which is linked to the China CFR price, but the actual pricing mechanism is a bit of secondary importance to us."

Shandong Iron & Steel, the world ninth largest steel group has already agreed to pay USD 1.5 billion for a 25% stake in African Minerals' flagship iron ore project and will take 25% of its production. Mr Mike Jones head of corporate development and investor relations said to go ahead, the deal still requires Chinese government approval, which is expected by December 31.

Gunvor buys 33pct of US coal mine for USD 400 million

2011-10-20T23:23:00.001-07:00

Interfax reported that Gunvor the commodities trader founded by Gennady Timchenko and Torbjorn Tornqvist has acquired a coal asset in the United States.

Pinesdale LLC a unit of Gunvor Group has paid USD 400 million for a one-third interest in the Signal Peak coal mine in Montana, one of the sellers. FirstEnergy will receive USD 260 million of the selling price and the remainder will go to private coal firm Boich.

FirstEnergy and Boich bought Signal Peak in 2008. At the time, FirstEnergy paid USD 125 million for a 45% stake in the project. The deal with Gunvor calls for creating a new corporate entity, Global Mining Holding Company in which the three investors will each own a one-third interest.

Mr Wayne Boich Jr president and chief executive of Boich Companies said "One of the key advantages that Gunvor Group brings to this venture is the ability to utilize their commodity trading relationships in such markets as Japan, China, Korea and Chile to sell more coal."

Mr Timothy Legge Gunvor SA chairman said this is Gunvor first investment in a coal mine in the United States. The trader can ship large amounts of coal through the deepwater port of Vancouver.

Under the deal, FirstEnergy Generation a subsidiary of FirstEnergy Corp has revised its original coal purchase agreement with Signal Peak to reduce annual purchases from 6.8 million to 1.8 million tonnes. Most of the coal from the mine will now be purchased by Gunvor.

Signal Peak now mines more than 8 million tonnes of thermal coal per year, but this figure is expected to grow to 13.5 million tonnes by 2015.

(Sourced from Interfax)

Afferro Mining identifies significant iron ore target at Ntem in Cameroon

2011-10-20T23:21:00.000-07:00

Shares in Afferro Mining said that it has identified a significant target within its Ntem iron ore permit in south west Cameroon.

Following interpretation of the latest airborne geophysical survey over the property, the company said it has identified a number of prospective targets at Ntem.

The strongest of these displays magnetic properties similar to those of the company projects in Putu in Liberia and Nkout in Cameroon. The target has a strike length of approximately two kilometres and is one kilometer wide.

Afferro said it will undertake a systematic geological exploration program leading to reconnaissance drilling in the first quarter of 2012.

Mr Luis da Silva CEO of Afferro Mining said "This latest interpretation is significant for the company in terms of strengthening our project portfolio and implementing our strategy in Cameroon, where we have already made considerable progress with our Nkout iron ore project.”

He said that “The Ntem project is located 80 kilometres from the coast and close to the same proposed railway infrastructure that the company's Nkout project is expected to use. We look forward to the results of the grab sampling and subsequent reconnaissance drilling in early 2012."

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Bacchus Marsh coal drill exceeds expectations

2011-10-20T23:19:00.000-07:00

It is reported that opponents of brown coal exploration near Bacchus Marsh west of Melbourne fear better than expected results will boost the likelihood of mining there.

Mantle Mining reports there is an estimated 1 billion tonnes to 2 billion tonnes of brown coal in the area.

The company says two of its four drill holes around Parwan have coal seams that are more than 50 metres thick which is 25% more than expected.

Ms Kate Tubbs president of the Moorabool Environment Group has told ABC Local Radio that she is determined to stop coal mining on her land. She said "It's quite appalling to think that you do have no rights over your land or your food security or your water security or any part of it and that they can just come in and just take over."

She added that "They are out-of-towners coming to do nasty things to our area if they have their way."

Ms Tubbs says she is not prepared to sell her property. She said that "The funny thing about it is that with all of the value of the so-called good coal that we've got underneath us, that we wouldn't realise a cent of that, and that all that we would be offered in compensation is the market value of our land which is plummeting quickly, with possibly five per cent tacked on top of that."

Newland Resources delivers maiden 150 million tonnes JORC Resource at Comet Ridge coal project

2011-10-20T23:16:00.000-07:00

22 times viewed. Friday, 21 Oct 2011Newland Resources has reached its first major milestone for the Comet Ridge Project area in the Bowen Basin of Queensland with the release of a maiden JORC Resource of 150 million tonnes of coal.

Independent geologists, McElroy Bryan Geological Services prepared the JORC Resource Statement. The Resource has coking coal potential of 50 million tonnes of coal at depths less than 50 metres and subsequent drilling is expected to increase the Resource.

The Resource at the Comet Ridge Project is contained in the Fair Hill Seam and has a cumulative thickness of between 2.5 and 4.0 metres.

Mr Gavin May Newland Resources' managing director said while 150 million tonnes is a significant tonnage, the 50 million tonnes of resource with coking coal potential at depths less than 50 metres is what excites me.

He said that "NRL has a clear focus on delineating economic coal, so future exploration will concentrate on conversion of these resources into mineable reserves.”

China Guangxi province ranks second for coal imports

2011-10-20T23:13:00.000-07:00

Southwest China’s Guangxi province has become one of the country’s largest coal importers, second only to Guangdong province.

Coal imports via the ports of Guangxi province have seen continuous increase in recent years, rising to 16.905 million tonnes in 2010 from 3.4 million tonnes in 2005, at an annual growth rate of 37.8%.Statistics from China General Administration of Customs show that coal imports into Guangxi province totalled 18.758 million tonnes in January through September this year accounting for 15.2% of the country total coal imports during the given period. The imported coal price averaged USD 97.7 per tonne up by 13.8%YoY. The imports of anthracite totalled 9.033 million tonnes, accounting for 48.2% of the province overall coal imports.

Vietnam, Indonesia and Australia are the main suppliers of the fuel, with exports to Guangxi province standing at 8.95 million tonnes, 4.249 million tonnes and 2.831 million tonnes respectively. The combined imports from the three countries occupy 83.5% of the province’s overall imports during January to September.

(Source: www.steelhome.cn/en)
China steel information centre and industry database

Jameson Resources eyes return to Canadian coal space with project acquisitions

2011-10-20T23:09:00.000-07:00

Jameson Resources has exited a voluntary trading suspension after announcing two separate deals to acquire coal assets in northeast British Columbia, Canada likely to be popular with investors.

The company which requested a voluntary suspension from the ASX on Monday has entered into a sale and purchase agreement to acquire Dunlevy Energy which holds the Dunlevy coal project located in the Peace River Coalfields.

Jameson will settle the deal with a CAD 51,000 payment to each Dunlevy shareholder totaling USD 153,000 and the issue of 4 million non voting, convertible, redeemable, preferred shares to each shareholder, totaling 12 million. These shares will be exchangeable for fully paid ordinary shares in Jameson on a one for one basis, upon the meeting of certain milestones. Jameson shares were last trading at AUD 0.14 valuing the shares at around AUD 1.68 million.

Meanwhile, Jameson has also entered into a binding letter of intent to acquire certain assets of Nexx Coal including the Graham River, Peace Reach and Carbon East coal projects which are also located in the Peace River Coalfields. Jameson will reimburse Nexx’s licence application fees of CAD 132,700.50 and issue 10 million non-voting, convertible, redeemable, preferred shares. Again, these shares will be exchangeable for fully paid ordinary shares in Jameson on a one-for-one basis, upon the meeting of certain milestones.

1. The assets
The Dunlevy and Nexx projects comprise approximately 46,700 hectares of exploration ground. The projects overlie the north-west extension of the Peace River Coal Fields District of northeast British Columbia. Some of Canada major coking coal and pulverized coal injection coal mines Willow Creek, Brule, Wolverine and Trend are located along strike from the property.

Fancamp Exploration intersects 30pct Fe at Lac Lamelee South Project

2011-10-20T22:57:00.001-07:00

Fancamp Exploration Ltd provide the first assay results from the Company drill program on the 100% owned and previously undrilled Lac Lamelee South Project which is located about 15 kilometers west of ArcelorMittal Fire Lake Mine. The three holes reported cover some 300 metres strikeRead More

China Coal resumes output at two mines halted after deaths

2011-10-03T22:49:00.000-07:00

Bloomberg reported that China Coal Energy Co has resumed production at two of five mines that were suspended after flooding killed 10 workers at a site run by its parent.

The company said in a statement to the Hong Kong Stock Exchange the mines passed a safety inspection by local authorities in Shanxi province. Three other sites are starting checks.

Xinhua News Agency reported on September 17 that production at the five underground mines was suspended after flooding at a pit run by China National Coal Group Corp the nation second largest coal producer and parent of the listed company killed 10 people.

China Coal said the provincial government ordered a halt pending rectification to underground mines owned by the parent and five underground mines in Shanxi held by the listed unit after the September 16 accident.

China Coal shares have dropped 29% since the accident, compared with a 10% slide in the Hang Seng Index. The suspensions, ordered as power plants prepared to start replenishing coal stockpiles for winter demand for electricity won’t have a material impact on output or the company operations.

There had been 512 coal mine accidents in China as of June, 21% fewer than in the same period in 2010. Shanxi produced 740 million tons of coal last year trailing only the 782 million tons mined by Inner Mongolia, China top producing province.

(Sourced from Bloomberg)

Coal shortage hits power generation at NTPC Ramagundam unit

2011-10-03T22:45:00.000-07:00

It is reported that power generation at NTPC Ramagundam super thermal power project located in Andhra Pradesh has been adversely impacted due to shortage of coal supply from Singareni Collieries Company Ltd.

SCCL miners are agitating in support for separate statehood of Telangana. Of the 2,600-MW of installed capacity at Ramagundam, NTPC plant is able to generate about 1,520 MW from the six units of 2,100 MW. It has shut down the seventh unit of 500 MW from Saturday due to coal shortage as it does not make sense to generate power with low plant load factor.

A spokesperson of NTPC told Business Line that "In spite of making alterative arrangements from Mahanadi Coalfields, South Eastern Coalfields and from mines in Chhattisgarh and Orissa and making other alternative arrangements from Coal India Ltd, we are able to generate only about 1,520 MW today."

As against average requirement of about 36,000 tonnes per day, NTPC now has supplies for about 18,000 tonnes.

The power generated from NTPC Ramagundam is supplied as per the allocation made to various southern States. Accordingly Andhra Pradesh gets about 31.5%, Tamil Nadu 25%, Karnataka 19%, Kerala 15%, Puducherry and Goa about 5% respectively.

(Sourced from www.thehindubusinessline.com)

Composition of Metso nomination board

2011-10-03T22:33:00.000-07:00

13 times viewed. Tuesday, 04 Oct 2011Metso Annual General Meeting decided on March 30, 2011 to establish a Nomination Board to prepare proposals on members of the Board of Directors and their remuneration for the next Annual General Meeting which is planned to be held on March 29, 2012. The representatives of the four largest shareholders registered in Metso shareholder register as of October 1, 2011 are elected to the Nomination Board along with the Chairman of the Board of Directors Jukka Viinanen as an expert member.

According to the shareholders register, Metso Corporation four largest shareholders on October 1, 2011 were:
1. Solidium Oy
2. Cevian Capital II Master Fund LP
3. Ilmarinen Mutual Pension Insurance Company
4. Varma Mutual Pension Insurance Company
These shareholders have named the following persons as their representatives for Metso's Nomination Board:
1. Kari Järvinen, Managing Director
2. Lars Förberg, Managing Partner
3. Harri Sailas, President and CEO
4. Matti Vuoria, Managing Director, President and CEO
Mr Kari Järvinen has been elected the Chairman of the Nomination Board.

Redar Iron identifies DSO iron ore targets at Jackson and Boondine projects

2011-09-26T02:06:00.000-07:00

It is reported that Radar Iron is about to ramp up news flow across several of the company's projects.

The latest positive news is that iron ore targets have been identified from an aeromagnetic survey which includes an additional 20 kilometres of magnetic responses.

The survey was over the Die Hardy, Boondine and Jackson projects which are located in the Southern Cross district of Western Australia which comprised 8,300 flight line kilometres.

The outcome is that several areas of direct shipping ore mineralisation have been defined at the Jackson and Boondine projects.

At Die Hardy which is the initial main magnetite target for Radar the data highlighted new untested magnetic units to the north and north west of the existing drilling indicating a combined strike length of 4 kilometres.

Magnetic modeling for all the recently acquired data is currently underway, with ground reconnaissance of potential anomalies kicking off this month, and following drilling approval, drill testing is expected to commence in early 2012 at the high priority targets.

In total Radar holds around 1200 square kilometres of tenements in the Yilgarn Iron Ore Province, with 120 kilometres of banded iron formations which are largely unexplored for iron ore.

Mr Jon Lea MD of Radar told Proactive Investors today that a 3000 metre reverse circulation drilling program will kick off next month at the Johnston Range project.

The project is significant for Radar with around 20 direct shipping ore targets having already been identified, which Lea said have the potential to host 2Mt to 5Mt hematite deposits in pods.

Johnston Range hosts 40 linear kilometres of banded iron formation, and has the potential to deliver a JORC Resource in the short term.

Queensland Galilee Basin could generate 6000 jobs

2011-09-26T02:03:00.000-07:00

It is reported that a new coalmine in central Queensland Galilee Basin could generate 6000 jobs during construction and 1500 places during the mine life.

More details on Waratah Coal USD 8.3 billion Galilee Coal project became available recently when the company released its environmental impact statement. The project involves a series of new thermal coalmines near Alpha, west of Emerald a 468 kilometer railway from the mine to the coast and a port at Abbot Point, north of Bowen.

Mr Rachel Nolan acting Development Minister said ''If the Galilee Coal project proceeds, it could generate around 6000 jobs during construction and 1500 jobs during the operational life of the mine which is expected to exceed 25 years.”

Mr Keith Davies Co-ordinator-general said community concerns about the impact of the railway would be looked at along with formal submissions when considering the project.

Premier Ms Anna Bligh said the project presented another big leap forward for Queensland's economy, provided the company met all environmental impact requirements. She said ''The Galilee Basin is a very rich coal seam. If it can be developed appropriately, then it means jobs, prosperity and growth, and a very bright future for our state.”

The project impact statement will be available for public comment until November 7. The proposed port at Abbot Point will be subject to a separate approval process.

(Sourced from www.brisbanetimes.com.au)

Zimbabwe deadline for foreign firms looms

2011-09-26T02:00:00.000-07:00

It is reported that foreign companies operating in Zimbabwe had until Sunday to hand in plans to sell majority stakes to local blacks under a law that has alarmed investors who are uncertain how the rules will work.

The government order for the transfer of 51% ownership has been called the final phase of economic emancipation after controversial land reforms targeting white owned farms a decade ago. But analysts are skeptical.

Mr Anthony Hawkins a University of Zimbabwe economics professor said "There is no way the local and the government has the money to buy shares in the companies. Everybody knows that."

He said that the indigenization drive could hurt the economy in the same way as the land reforms which sparked an economic nose-dive after supporters of President Mr Robert Mugabe violently seized white-owned farms.

Mr Hawkins about polls expected next year said "My concern is that this is much more of a political policy and it will have an economic harm just like the land reforms. It looks like they are doing this for the elections."

He said that "This will reduce the amount of investment in the country as the new owners will not have the money to, for example, expand projects. The community does not have the money, as well as the workers and the government is broke."

The push is without the violence of the land seizures which Mr Mugabe said was a way to correct colonial-era wrongs, but there is mixed signals on how the law will be implemented.

Mr Saviour Kasukuwere Indigenization Minister has warned that non-compliant companies risk nationalization. But certain firms have arranged their own deals and deadlines ahead of Sunday cut-off date making the government appear flexible on how the law is implemented.

(Sourced from AFP)

Mongolia high plains herders warily eye coal truck road

2011-09-26T01:57:00.000-07:00

Reuters reported that a lone cement ribbon bisecting hundreds of miles of shale and scrub on the high plains of Mongolia Gobi Desert may be a talisman or curse for nomadic herders that trace their lineage to the empire of Mr Ghengis Khan.

Carved into the Gobi by the Hong Kong listed Mongolian Mining Corporation the 147 mile and two lane roads is due to open next month, allowing the company to speed up cargoes of coal to China from its expanding Ukhaa Khudag mine.

The freshly paved highway is one of the first glimpses of a mining boom that will transform Mongolia fortunes. But many including President Mr Tsakhia Elbegdorj are worried that mining has already put the country fragile pastoral economy under strain and left a million nomads behind.

Mr Puntsag Tsagaan president senior adviser said "Hundreds of rivers, streams and lakes have disappeared because of deforestation, climate change and also partly because of irresponsible mining."

He said that "Our challenge is how to diversify our economy. I don't want my children and my grandchildren to live in a different country called Minegolia it has to be Mongolia. Therefore we have to manage the mineral wealth in a better way."

The road will remove a major logistical hurdle for MMC.

Mr Adilbish Gankhuyag MMC's chief financial officer said "We will start using it next month and it will have a total throughput capacity of about 18 million tonnes per annum this year our total production will be 7 million tonnes so we no longer have logistics and transportation problems."

Mr Shurka Baigalmaa MMC's onsite manager at Ukhaa Khudag said it is also a key part of the company commitment to protect the region's ecosystem which has been damaged by hundreds of overloaded coal trucks churning up grazing land.

MMC is also committed to using the parched region water supplies efficiently with Baigalmaa saying that 95% of water used at the mine washing plant would be recycled.

The open-cast mine is already 70 metres deep and will eventually descend 300 metres but she said the company would limit the impact by refilling exhausted seams using peat excavated from new mining areas further west.

(Sourced from Reuters)

Avonlea Minerals appoint Non Executive Chairman

2011-09-26T01:54:00.000-07:00

Avonlea has appointed Mr David Macoboy as Non Executive Chairman effective immediately.

Mr Macoboy brings to the Board a wealth of experience across a range of industries especially in the areas of corporate strategy, finance, project evaluation and development, and management. Mr Macoboy has over 20 years in the resources sector joining Avonlea following roles at Board level with a range of successful ASX listed exploration and mining companies.

Mr David is currently Non-Executive Chairman of Vital Metals Limited, and has held previous Directorships with Ammtec Ltd, Ironclad Mining Limited, Grange Resources Limited, Territory Iron Limited and Consolidated Minerals Limited.

Mr Macoboy holds a Bachelor of Economics and a Bachelor of Commerce from the University of WA. David is a Fellow of the Australian Institute of Company Directors and a Certified Practicing Accountant.

Mr David Riekie Avonlea Managing Director said "We welcome Mr Macoboy as a valuable addition to the Avonlea Board. His extensive corporate and resources experience provides a complementary skill set to the existing Board. Mr Macoboy joins the Company at a pivotal time in the Company's growth as we continue to develop our portfolio of projects in Namibia, and will assist to drive our corporate agenda to realize the full potential of our asset base."

Mr Roger Steinepreis will as a consequence step down as Chairman, but will remain a Non-Executive Director of the Company. The Board thanks Roger for his significant contribution to the Company in his capacity as Chairman since listing on the ASX in 2007.

US coal units to retire as EPA tightens rules

2011-09-26T01:51:00.000-07:00

(Sourced from Reuters)
Reuters has made a partial list of US coal plants that energy companies expect to retire in the coming years. Some units may be converted to burn alternative fuels or be replaced with natural gas fired generation.

OWNER	UNIT	SIZE	STATE	DATE TO SHUT
Exelon	Cromby Units 1,2	345	PA	31-May-11
Exelon	Eddystone Units 1,2	588	PA	31-May-11
AEP	Phillip Sporn	450	WV	2011
TVA	Shawnee Unit 10	124	KY	2011
Duke	Cliffside 1-4	198	NC	2011
Duke	Buck 3 and 4	113	NC	2011
AES	Greenidge	156	NY	c2011
AES	Westover	128	NY	c2011
TVA	Widows Creek 1-2	282	AL	Late 2011
TVA	John Sevier Unit 1,2	352	TN	2012
Duke	Edwardsport	160	IN	2012
Duke	Dan River 1-3	276	NC	2012
GenOn	Potomac River	482	VA	Oct-12
Progress	H.F. Lee	397	NC	2013
Black Hills	W.N. Clark	42	CO	By 2013
Progress	Weatherspoon	172	NC	2013-2017
Progress	Sutton	600	NC	2014
Duke	WS Lee	370	SC	2014
Dominion	Salem Harbor	738	MA	2014
Duke	Wabash River 2-6	668	IN	2014
AEP	Glen Lyn	335	VA	31-Dec-14
AEP	Kammer	630	WV	31-Dec-14
AEP	Kanawha River	400	WV	31-Dec-14
AEP	Phillip Sporn	600	WV	31-Dec-14
AEP	Picway Plant	100	OH	31-Dec-14
AEP	Big Sandy 1,2	1078	KY	31-Dec-14
AEP	Clinch River 3	235	VA	31-Dec-14
AEP	Conesville 3	165	OH	31-Dec-14
AEP	Muskingum River 1-4	840	OH	31-Dec-14
AEP	Tanners Creek 1-3	495	IN	31-Dec-14
AEP	Welsh 2	528	TX	31-Dec-14
Dominion	North Branch	74	VA	Late 2015
Duke	Riverbend 4-7	454	NC	2015
Duke	Buck 5-6	256	NC	2015
Dominion	Yorktown 1-2	323	VA	2015
TVA	Widows Creek 3-6	564	AL	Late 2015
TVA	Johnsonville 1-6	794	TN	Late 2015
Dominion	Chesapeake 1-4	595	VA	2015-2016
PPL's LG&E	Cane Run	563	KY	2016
PPL's LG&E	Tyrone	71	KY	---
PPL's LG&E	Green River	163	KY	2016
TVA	Johnsonville 7-10	692	TN	Late 2017
Dominion	State Line	515	IN	By mid-2014
Progress	Cape Fear	316	NC	2017
Xcel	Cherokee 1-4	1069	CO	By 2017
Xcel	Arapahoe 3,4	156	CO	By 2017
Xcel	Valmont	186	CO	By 2017
CPS Energy	Deely	871	TX	2018
PGE	Boardman	585	OR	2020
Centralia	TransAlta	688	WA	2020
Centralia	TransAtla	688	WA	2025
APS	Four Corners 1-3	560	NM	---
		22230

CIL maintains stand on bonus issue

2011-09-26T01:49:00.000-07:00

Press Trust of India reported that Coal India stands firm on its decision of bonus payment to the workers despite their threat of a one-day strike on October 10.

Mr NC Jha Coal India Chairman said "There is no plan to review the bonus offer from us."

He said if the unions go ahead with the strike, the miner would lose 0.8 million tonne to 1 million tonne in coal production, while the revenue loss would be INR 120 crore.

Coal unions have said they'll go on a strike across mines including in Singareni Coal Companies, if their demand for a minimum INR 25,000 bonus is not accepted by the management. CIL on the other hand has offered INR 17,000 against INR 15,000 offered last year.

With the company registering a shortfall in production in August and September due to rains, the strike would make it difficult for the company to meet the projected production target of 452 million tonnes for the current fiscal.

Meanwhile, Mr Alok Perti Coal Secretary while addressing the seminar said there is need for simplification of the procedures in acquisition norms to help the PSUs in buying overseas energy assets.

He said that "Time is essence. In this aspect, private sector has an advantage over the PSUs to take quick decisions," he said.

CIL in the past has failed to act swiftly due to procedural hindrances and some of the overseas coal assets went to other bidders.

(Sourced from Press Trust of India)

Global Earth Energy announces closing date of coal properties

2011-09-26T01:46:00.000-07:00

Global Earth Energy Inc announced that its partially owned Canadian company, Global Earth Natural Resources Inc which trades on the Frankfurt Stock Exchange under the symbol 2GN, 2GN: GR on the Bloomberg quote system, a co-owner along with Modern Coal, LLC of Global Earth Natural Resources LLC a Texas limited liability company, has set a closing date of mid September for its acquisition of the Samuel Coal properties in Knott County, Kentucky. Permitting has been received on all three of its initial locations and Global Earth Natural Resources, LLC expects to begin mining operations immediately after closing the acquisition.

Global Earth Energy, Inc Global Earth Natural Resources LLC and Modern Coal, LLC plan to expand the workforce needed for the Kentucky operations of Global Earth Natural Resources, LLC and have begun accepting resumes for various positions. The total need for new hires is expected to be approximately 100 people. Global Earth Natural Resources, LLC is looking for personnel experienced in tipple operations or related experience in the transport and loading of coal, shift supervisors, mechanics, bookkeepers and security and safety personnel.

Modern Coal, LLC and Global Earth Energy Inc wish to express their thanks to Congressman Hal Rogers, US Representative from Kentucky 5th Congressional district, for his support and encouragement as Global Earth Natural Resources, LLC completes its acquisition of the Kentucky coal properties helping bring new jobs to Knott County and his steadfast support of Kentucky's coal producers.

www.steelguru.com

Science City to establish mining investment JV

2011-09-20T22:43:00.000-07:00

It is reported that Science City Development Public plans to establish a mining investment and development joint venture with Hainan Xinde Taisheng Investment Management and Shouyi Venture Capital.

The joint venture, Yintai Shengda Mining Investment Development, will have a registered capital of CNY 100 million of which CNY 51 million will be borne by Science City in return for a 51% stake.

Science City released its assets restructuring plan in July. It had planned to swap out its hotel assets for lead-zinc mining assets. The value of the target mining assets rose 14 fold in the past three years.

Shares of Science City had risen by their daily limits for two straight trading sessions from July 21. However, the stock then dropped continuously to CNY 7.5 at present.

(Sourced from Shanghai Securities News)

Norway and Finland challenge Sweden dominance in mining

2011-09-20T22:41:00.000-07:00

It is reported that Sweden e leading Nordic country when it comes to mining industry.

Norway is expected to introduce a 15 year state program on mineral research which will cost SEK 1 billion according to Sveriges Radio. The Norwegian mining industry has for a long time been in the shadow of the oil industry but the current high metal prices have changed the Norwegian government's view on this.

The Finnish government has made the same thing. In May it started a 5 year state financed mining research program which costs SEK 500 million.

(Sourced from www.steelguru.com)

Beacon Hill suitor withdraws approach

2011-09-20T22:37:00.000-07:00

Reuters reported that bid target Beacon Hill Resources a potential offer was withdrawn after for the coking coal producer confirmed it undervalued the group and its assets.

Beacon Hill said it continued to make good progress with the development of Minas Moatize a producing coal mine in the Tete Province of Northern Mozambique.

The company said in a statement that "Whilst equity markets have been volatile, coal prices have remained very strong and demand for security of supply of coking coal is at an all-time high."

On August 26, Beacon Hill snubbed an early stage takeover proposal of 142 million pound from a third party saying it undervalued the company.

Beacon has two primary assets the Minas Moatize coal mine in Tete, Mozambique and Tasmania Magnesite NL in Tasmania, Australia.

(Sourced from Reuters)

Mr Lindsay favors coal mine expansion as mergers booms

2011-09-20T22:32:00.000-07:00

Teck Resources Ltd the world second largest exporter of coal used in steelmaking focused on expanding its Canadian operations without acquisitions, even as the volume of transactions in the industry rises to the highest level in at least 12 years.

Mr Don Lindsay CEO of Teck Resources said "For us, it makes far more sense to build than to buy. It may be boring from an external point of view that there aren't lots of transactions, but it works."

Teck plans to step up the pace of extraction from the more than 5.5 billion tonnes of coal deposits it holds in Alberta and British Columbia. Mr Lindsay said building capacity in western Canada is a cheaper way to add production than buying companies such as US miner Walter Energy Inc or Australia Macarthur Coal Ltd.

According to Bloomberg data there have been 56 pending or completed takeover bids for coal producers so far this year with a combined value of about USD 21.3 billion. They include Peabody Energy Corp and ArcelorMittal agreement last month to acquire Macarthur for AUD 3.64 billion. There were 70 deals worth about USD 16.4 billion in 2010.

Walter which also mines metallurgical coal in Canada rose 21% in New York trading on September 7 after the London based Times reported Anglo American Plc may consider a bid. Walter investor Audley Capital Advisors LLP said in July that company should explore a sale. Mr Lindsay said Teck isn't interested.

He said that "Two-thirds of the business is underground, long-wall o
perations. You've seen in their performance, the squeezes that they've had. Why would I want to get into that business?"

China Shenhua Energy commercial coal output up 20pct in Aug

2011-09-20T22:28:00.000-07:00

China Knowledge reported that China Shenhua Energy Co Ltd the country largest coal producer produced 27.3 million tonnes of commercial coal in August reflecting a YoY increase by 20.3%.

The Shanghai and Hong Kong listed firm commercial output swelled 26.2%YoY to 23.1 million tonnes. Coal sales amounted to 32 million tonnes up by 26.5%YoY.

Last month, the coal company sold 306 million tonnes of coal, 21.9% more than in August 2010. Of the total sales, 500,000 tons were exported plunging 44%YoY. In addition, China Shenhua Energy said its electricity output surged 34.6%YoY to 18,100 gigawatt hours in June and the firm power sales soared 34.6%YoY to 16,800 GWh in the month.

The Chinese coal producer reaped CNY 21.87 billion in net profit attributable
to shareholders in the first half of this year up by 16.1%YoY and its operating revenue for the first half surged 40.5%YoY to CNY 100.69 billion.
(Sourced from China Knowledge)

Rio Tinto is holding an investor seminar in London and New York on September 20th 2011

2011-09-20T22:26:00.000-07:00

1. Rio Tinto's growth program is well underway with work progressing on $ 27 billion of major capital projects, and a $35 billion pipeline of high quality, unapproved projects currently in the advanced-study phase.

2. Growth projects are well balanced between Brownfield expansion of existing assets such as iron ore in the Pilbara and newer, world class quality projects including coal in Mozambique and copper gold in Mongolia.

3. Rio Tinto's order books are full and commodity prices remain robust. However, customer sentiment is now more cautious and physical markets are softer than they were six months ago, reflecting concerns over the health of the OECD economies and persistent volatility in financial markets.

4. Rio Tinto's estimated net debt as at August 31st was $ 7.6 billion, a reduction of $ 1 billion since June 30. This has been achieved despite the accelerated share buyback program and continued investment in growth.

5. More than $ 4 billion of Rio Tinto's $ 7 billion share buy back program has now been completed.

Mr Tom Albanese CEO of Rio Tinto said that "We've been saying for quite some time that we expected to see patterns of increased price volatility amidst turbulent financial markets and that scenario is playing out. Our order books are full and pricing is strong, but it is noticeable that markets are somewhat weaker than they were six months ago. We are realistic and well positioned for any number of scenarios our high quality growth program is in full swing to capture the expected increases in longer-term demand, and our balance sheet is very strong and well able to withstand any near term decline. Our long term view of demand growth is unchanged. As the metal hungry developing economies grow, demand for copper, aluminium and iron ore will double over 15 to 20 years. But challenges on the supply side are limiting the speed of new supply to market. Project finance is tight because of the current market jitters. Permitting delays, labour and equipment shortages, and technically challenging ore bodies are all contributing factors. With Rio Tinto's exceptional growth projects in a range of countries and commodities, coupled with our leadership in new technologies, we are in an advantageous position."

Mr Guy Elliott CFO of Rio Tinto said that "Our balance sheet is robust, monthly cash flow generation remains high and we are able to access debt markets at competitive rates, as we demonstrated just last week with an attractively-priced bond issue. Our prudent balance sheet and single A credit rating are highly beneficial, particularly in challenging markets. This approach means we have been able to pursue our strategy of targeted acquisitions and shareholder returns without interruption, successfully completing the Riversdale acquisition in August."

EastCoal gets access to new west block at Verticalnaya mine

2011-09-20T22:21:00.000-07:00

A Canadian based company with coal assets in Ukraine, EastCoal Inc has announced that recent work at the main Verticalnaya anthracite mine has established that access to the new West Block in the west extension of seam H8 can be readily established.

The company said while access from the former mine into that area had been sealed off and was believed to be flooded, investigation of a ventilation drift has established that the access way is free of water.

Records indicate that the West Block of the H8 seam initially extends for approximately 2.5 kilometres along strike and three kilometers down dip. The Seam thickness is recorded in the region of 0.6 meters, which is less than for the other areas now being developed but can be mined with modern western equipment.

The company said that the potential of the West Block is significant in that, if developed, it could bring forward commercial production from the H8 seam by as much as 12 months and add to the overall production of the mine.

The company said an independent NI 43-101 compliant technical report is being commissioned to evaluate the coal resources in the West Block.

Optimum Coal independent board reviews Glencore bid

2011-09-20T22:19:00.000-07:00

Reuters quoted investors said independent directors at South Africa Optimum Coal are reviewing an expression of interest from Glencore and its local partner and share sales made to the suitors despite the absence of a formal bid.

Glencore, the world largest diversified commodities trader has been buying stock in OCH and earlier this month said it aimed to take a controlling stake in South Africa sixth largest coal producer alongside its partner politician turned-businessman Ms Cyril Ramaphosa. They have yet to make a formal offer.

Some investors expressed concerns that shares were sold to the suitors before the expression of interest was revealed. The deal would be Glencore most significant since its record share listing in May.

One shareholder said "The situation is still very fluid, adding it was unclear when the board would conclude the review and whether Glencore would in fact make a full bid and whether it would face political opposition.”

The independent board is charged with protecting the interests of all shareholders especially the community and employee trusts that own about 20% in the company.

An OCH spokesman said "It is often the case that an 'independent board' is set up to consider specific processes and decision making. The spokesman said there was no deadline for the board review particularly since there had been no firm offer.”

According to some shareholders to date, Glencore has com

pleted the purchase of 25.8% of OCH's shares but has options to buy more at least 43% and as much as 49%.

(Sourced from steelguru.com)

Grindrod to sell shares worth ZAR 2 billion to Remgro Ltd

2011-09-20T22:14:00.001-07:00

Bloomberg reported that Grindrod Ltd Africa largest shipping company plans to sell new shares worth ZAR 2 billion to Remgro Ltd to fund projects including the expansion of a coal terminal in Mozambique.

Remgro, the South African investment company will pay ZAR 15 a share giving it a 22% stake in Durban, South Africa based Grindrod. Grindrod existing shareholders will have the option of buying shares on the same terms and Remgro stake will be reduced in line with demand from the investors.

The company said Grindrod plans to spend ZAR 10 billion over next five years to expand ports and terminals capacity especially at the Maputo Coal Terminal.

According to the statement the transaction needs approval from three quarters of Grindrod shareholders before it can go ahead.

(Sourced from steelguru.com)

Century Iron Mines to trade on TSX under symbol FER

2011-09-20T22:12:00.000-07:00

Century Iron Mines Corporation announced that its common shares will commence trading on the Toronto Stock Exchange at the opening of trading today under the current symbol FER. Concurrently with the listing on the TSX, the Company shares will no longer trade and will be delisted from the TSX Venture Exchange.

Mr Sandy Chim President & CEO of the Company stated that "We are very pleased to have graduated to the premier Canadian exchange, another significant milestone in the development of our Company. We have been served well by our listing on the TSX Venture Exchange through its Capital Pool Company program. Listing on the TSX will provide Century Iron with greater market visibility and increased access to capital to advance the Company towards its vision to be a major player in the Canadian iron ore industry. We look forward to continuing the growth of our business on the Toronto Stock Exchange."

www.steelguru.com

Rey Resources confirmed strike extent of the coal outcrop

2011-09-20T22:10:00.000-07:00

Rey Resources drilling has confirmed the strike extent of the coal outcrop for two kilometres to the north, beyond the coal reserves in the existing mine plan at its Duchess Paradise thermal coal export project.

The presence of the continuous shallow coal occurrences potentially extends the proposed mine life at the project in the Canning Basin, Western Australia boosting the proposed above ground slot mining from the current plan of 10 years to about 13 to 14 years.

Also, the additional coal intercepts have the potential to expand the resources across an additional 22 square kilometres of tenement holdings adjacent to the current JORC resource. Down dip extensions of resources have been confirmed. There is an established JORC Reserve of 26.3 million tonnes thermal coal at the project based on detailed mining plans. Current drilling is expected to be completed in October.

Drilling has confirmed the presence of P1 Seam coal ranging in thickness from 0.98 to 1.47 metres. The company completed drilling along 500 meter centers during the season for a total of 2,500 metres in 20 rotary holes. Coal quality sampling will continue during the 2012 season.

Further drilling at the Duchess Paradise has also confirmed additional extensions to the P1 Seam resource with coal intersections in 38 holes for 5,800 metres, confirming further coal occurrences down-dip up to two and half kilometres to the east of the existing JORC Inferred Resource limits

Radar Iron identifies DSO iron ore targets at Jackson and Boondine projects

2011-09-20T22:07:00.000-07:00

Radar Iron is about to ramp up news flow across several of the company projects.

The latest positive news is that iron ore targets have been identified from an aeromagnetic survey which includes an additional 20 kilometres of magnetic responses. The survey was over the Die Hardy, Boondine and Jackson projects which are located in the Southern Cross district of Western Australia which comprised 8,300 flight line kilometres.

The outcome is that several areas of direct shipping ore mineralization have been defined at the Jackson and Boondine projects. At Die Hardy, which is the initial main magnetite target for Radar the data highlighted new untested magnetic units to the north and north-west of the existing drilling indicating a combined strike length of 4 kilometres.

Magnetic modeling for all the recently acquired data is currently underway with ground reconnaissance of potential anomalies kicking off this month and following drilling approval, drill testing is expected to commence in early 2012 at the high priority targets.

In total Radar holds around 1200 square kilometres of tenements in the Yilgarn Iron Ore Province with 120 kilometres of banded iron formations which are largely unexplored for iron ore.

1. Johnston Range DSO targeted drilling to commence

American Power receives approval for Phase II of exploration drilling program

2011-09-20T22:03:00.000-07:00

American Power Corp announce the amendment of its prospecting permit to cover additional drill locations for Phase II of its exploration drilling program at the Pace Coal Project in Judith Basin County, Montana.

On July 29 2011, the Coal and Uranium Program of the Montana Department of Environmental Quality approved the Prospecting Permit No. X2011335, authorizing American Power to start Phase I of its exploration drilling program at the Pace Coal Project. The initial permit covered a total of 24 drill holes on 13 different locations and the amended permit covers an additional 16 drill holes on 9 different locations.

As of September 9, 2011, the Company had completed 5,750 feet of drilling on nine drill locations corresponding to Phase I of its coal exploration program. American Power expects Phase I to be completed imminently. The board of directors of the Company is very pleased with the results to date and has approved the initiation of Phase II of the drilling program as soon as Phase I is completed.

Mr Al Valencia President and CEO of American Power said "We are delighted to have received the approval from the Montana DEQ that covers Phase II of our drilling program. We are also pleased to inform our shareholders that preliminary findings to date are in line with our technical team expectations with seven out of nine drill targets encountering coal intervals. Drill cores will be shipped to Standard Laboratories, Inc in Casper, Wyoming for analysis according to ASTM standards. Initial sampling results are expected within two to three weeks."

American Power planned exploration drilling program consists of 61 drilling sites and will involve a total of 53,875 feet of drilling. The program aim is to place a significant portion of the coal holdings of the Pace Coal Project in the proven and probable reserve classification, with an ultimate goal of establishing sufficient resources to support a greater than 20 year operational mine life. American Power exploration program will provide information relative to coal seam thickness, depth of cover expected top and bottom conditions and coal quality.

Haranga Resources discovers significant iron ore at Selenge Project in Mongolia

2011-09-19T23:27:00.000-07:00

Haranga Resources has unearthed broad widths of iron mineralization in all sixteen diamond drill holes completed at the Bayantsogt prospect within its Selenge Project in Mongolia.

The company is aiming to define an initial JORC Resource by the first quarter of 2012. Bayantsogt is the first of the four major targets to be drilled at Selenge.

Drilling at the Bayantsogt prospect has intersected at least five major iron lodes ranging in down hole width from 12 metres to 54 metres. Assay results have been received for seven holes. The mineralization remains open in all directions.

Highlights from within the banded magnetite skarn formations include
1. 26 metres at 27% iron (Fe) from 32 metres
2. 28 metres at 30% Fe from 3 metres
3. 29 metres at 24% Fe from 34 metres
Similar banded magnetite skarn deposits in the Selenge region, such as the nearby Eruu Gol mine have proven amenable to mining and low cost beneficiation.

The company Selenge iron ore project consists of five contiguous exploration licences covering almost 600 square kilometres of ground in the heart of Mongolia premier iron ore development region. Importantly, The Selenge project area has excellent access to the main trans-Mongolian rail line and nearby rail spurs.

The Selenge province includes the 304 million tonne deposit currently being mined at nearby Eruu Gol which produces about 2.5 million tonnes of magnetite concentrate per annum and ships the product via a newly constructed 70 kilometer rail spur connecting the mine to the main trans-Mongolian rail line.

Drilling with two rigs is continuing and the mineralization is still open in every direction including depth. The company has a third rig now drilling at other Selenge targets and is attempting to secure a further dedicated drill rig at Bayantsogt for the remainder of the drilling season.

Initial drilling has commenced at the Huiten Gol prospect. The company plans to commence drilling at the Dund Bulag prospect before the end of this month. Depending on these results, Haranga Resources may also decide to drill test at the nearby Undur Ukhaa prospect prior to year end.

Shenhua Energy coal output in Aug up by 20pct YoY

2011-09-19T23:25:00.000-07:00

It is reported that China Shenhua Energy posted a 20.3%YoY rise in commercial coal output in August to 23.7 million tonnes.

Coal sales in August rose 21.9%YoY to 30.6 million tonne of which exports hit 500,000 tons down by 44.4%. The railway network owned by Shenhua Energy posted a 6.3%YoY increase in throughput to 13.6 billion tonne kilometers.

The company recorded a 34.6%YoY rise in power sales in August to 16.84 billion kWh while power output totalled 18.1 billion kWh.

(Sourced from sina.com)

Indian power utilities import 8pct more coal in August

2011-09-19T23:23:00.000-07:00

Bloomberg quoted India Coal Market Watch said electric utilities in India increased coal imports in August to 3.19 million tonnes up by 8% from July.

It said the Central Electricity Authority a supervisory body set a target to import 4.6 million tonnes of coal for power plants last month.

It said imports rose 81%YoY to 17.9 million tonnes in the first five month of the year. That compares with a government target of 35 million tonnes.

(Sourced from Bloomberg)

Bureau of Meteorology- Rain risks for Queensland Bowen and Galilee coal basins

2011-09-19T23:21:00.000-07:00

According to the Bureau of Meteorology said posing a threat to recovery of coal supplies from the region this year that the chance of above median rainfall in the coal-producing Bowen and Galilee basins in Queensland is about 60% to 70%.

Maps released as part of the bureau seasonal outlook for October to December this year showed most of the Bowen with a 65% chance of above-median rainfall while the developing Galilee basin has a 70% chance of above median rains.

Heavy rainfall throughout the last southern tropical wet season caused severe disruptions to Queensland coal exports with knock on effects in the global markets for coking coal and the steel which uses it as a raw material.

Australia accounts for about 56% of coking coal traded by sea with the Bowen accounting for the vast majority of that total and the previous year rains caused the price of premium hard coking coal to spike 50% as high as USD 330 a tonne.

According to CoalPortal coking coal is trading around USD 285 per tonne at Australian ports.

Around 350 millimeters of rain fell at Moranbah at the heart of the Bowen during peak months during the 2010-11 and 2007-08 wet seasons. The bureau rainfall outlook suggests that isn't yet likely with the chance of at least 200 millimeters of rain little over 50% for October to December in most parts of the Bowen.

(Sourced from www.theaustralian.com.au)

Indian coal ministry seeks status report on captive blocks from firms

2011-09-19T23:18:00.001-07:00

Having already issued a warning to coal block allottees that have failed to develop mines awarded to them in a timely fashion, the government has now asked these firms to furnish a status report on progress made on these delayed projects in the July to September quarter.

The Coal Ministry said "You are requested to send detailed information for the quarter ending September 2011 in respect of allocated coal/lignite blocks and associated end use projects along with the reasons for delays in implementation of the coal/lignite project to this office by September 30."

In May, the coal ministry took a decision to deallocate 14 coal blocks and one lignite block and issued warnings in respect to 29 coal and three lignite mine allottees asking the concerned companies to commence production in time.

The companies whose coal blocks were deallocated include NTPC, Andhra Pradesh Power Generation Corporation, Bhatia International, Shree Bhaidyanath Ayurved Bhavan, Jharkhand State Electricity Board, Damodar Valley Corporation and Gondawana Ispat Ltd among others.

(Sourced from Economic Times)

Exploration for coal and minerals in Queensland jumps by 1000pct in five years

2011-09-19T23:17:00.000-07:00

It is reported that exploration and mining development has exploded to such an extent that Queensland is almost entirely covered by some sort of lease.

The Courier Mail reported that farmers are now pitted against global corporations as exploration for coal and minerals alone has jumped by about 1000% in five years and now covers about a quarter of the state. Added to that is the massive investment in coal seam gas and the expectation of about 40,000 wells.

More than USD 1 billion has been spent on minerals, oil and gas exploration in Queensland in the past year alone but despite the huge economic benefits the farming community now thinks mining has gone too far too fast and the Government is at least 18 months to two years behind in its regulation.

Mr Dan Gallagher Queensland Farmers Federation said "People are encouraged to get out there and go for it. The rate of exploration is outstripping the Government ability to approve it. But He said while the industry did not want a moratorium on new mining development it did want approvals to slow down.”

The increase in exploration omits applications not yet granted for exploration, existing mining developments and coal seam gas and traditional petroleum.

There are 2449 granted exploration permits for mineral and coal resources a 70% increase in number while the percentage of land they cover has grown from 2% of the state to 23.5%. Very few exploration permits ever result in a commercial mining project.

The farming community is encouraged by some moves from the State Government to restrict mining land grab which includes a buffer zone around urban areas and its strategic cropping land policy, however that relates to only a fraction of the state farming land.

(Sourced from www.news.com.au)

Environment group stages anti coal protest west of Melbourne

2011-09-19T23:14:00.000-07:00

It is reported that a protestor who chained himself to a coal exploration drill rig at Bacchus Marsh west of Melbourne has come down after talking to police.

The group Switch off Coal is protesting against Mantle Mining exploration in the region. One of the members of the group used thumb-cuffs to attach himself to the drill rig on a roadside.

Mantle Mining started testing for brown coal in the area two weeks ago.

The group says the community has not been consulted and the agriculture industry will suffer if mining is allowed.

Protester Mr Shaun Murray chained himself to a drilling rig at one of the test sites. He said that "This is probably the most advanced coal project and as such, it represents the first attempt to build or undertake a new coal development in Victoria in 15 years."

Another protester, Mr Paul Connor says money should be invested in renewable energy, not coal. He said that "We need to be transitioning away from coal. Brown coal is the dirtiest kind of coal."

He added that "Mantle Mining is claiming that they can burn the brown coal slightly more efficiently, but this technology that they're planning to use is in no way compatible with a safe climate future for this planet."

Coal towns urged to consider renewable future

2011-09-19T23:12:00.000-07:00

It is reported that a new USD 100,000 report has identified Muswellbrook and Singleton as future renewable energy hubs.

The Upper Hunter Diversification Report was commissioned by the six Upper Hunter councils, co funded by the State Government and is being released to Singleton councillors this week.

It attempts to signal where the Hunter jobs will come from over the next 25 years and as the coal boom subsides.

Singleton Council Ms Salena Avard said because of the skilled mine labour force in Muswellbrook and Singleton, the towns would be perfect for the production of renewable energy technologies.

She said "Singleton has a really fantastic set of skills that are associated both with the mining industry but professional services and all sorts of support industries."

She added that "I think there is an opportunity for us to have a look at where we can transfer those skills. Everyone recognizes that the mining industry is going to be here for some time yet but certainly life after mining is a consideration of this report."

(Sourced from www.abc.net.au)

MEC Resources Study points to significant shale gas potential in Advent onshore fields

2011-09-19T23:10:00.000-07:00

MEC Resources has provided the following advice from its investee company Advent Energy Ltd regarding its permits in the onshore Bonaparte Basin, Western Australia.

Advent has now completed an initial study of shale gas potential in EP386 and RL1. The results indicate significant potential upside in prospective shale gas resources for Advent with estimated unrisked OGIP for EP 386 & RL 1 in the range from 19 TCF to 141 TCF. The thickness of the prospective shale gas play varies from 300m to over 1500m.

The study key findings are

Multiple petroleum targets are present in EP 386 & RL1:

1. Proven conventional gas charged sandstone reservoirs in nearshore marine area of the Milligans Formation

2. Unconventional gas-condensate shale plays in the shallow marine areas of Lower Milligans Formation

3. Unconventional tight gas sandstone and limestone reservoirs in the Langfield, Ningbing & Cockatoo groups below the Milligans Formation

4. Lower Milligans Formation shale is prospective for shale gas play with considerably large upside potential

5. Marine shale with moderate organic richness: TOC of up to 2.2% from samples in wells within or in close proximity of EP 386. Higher TOC could be present in the deeper offshore area north & east of EP 386

6. Source rocks are mature for gas and oil generation: Ro range 0.44% to 2.42% & Tmax range from 430 to 480

7. Limited geochemical data indicates source rocks at depth shallower than c 1400 meters are mature for gas/wet gas and oil generating windows, but over mature and in the dry gas generating window at depth below 1400 meters

8. The thickness of the prospective shale gas play is varied from 300 meters to over 1500 meters. This would provide significant upside in prospective shale gas resources

9. Unrisked OGIP for EP 386 & RL 1 could be in the range from c 19 TCF to 141 TCF.

Solar plans for coal fired power stations

2011-09-19T23:08:00.000-07:00

It is reported that scientists and engineers have drawn up plans to convert Port Augusta two coal fired powered stations to solar thermal plants.

Non government organization Beyond Zero Emissions will meet South Australia Energy Minister Mr Michael O'Brien this week to discuss the two stations potential for conversion to solar.

Mr Mark Ooges from the organization says most equipment and staff would be kept under the plan. He said that "In a sense a solar thermal power plant is exactly the same as a thermal coal plant, the only difference is to produce the heat you use mirrors to concentrate the sun's energy rather than burning coal."

Mr Ooges says converting the power stations from coal to gas would be too costly. He said that "As Australia starts exporting a whole lot of LNG and gas prices are going to be linked to global prices so if we link our electricity generation to gas prices then we'll start getting the same volatility and uncertainty at the power switch that we're already getting at the petrol pump."

Alinta Playford B station at Port Augusta is expected to close under any carbon tax scheme.

(Sourced from www.abc.net.au)

Fatal accident at South Wales coal mine

2011-09-16T23:01:00.000-07:00

Euronews reported that 2 coal miners have been found dead after an underground accident in South Wales.

A rescue operation is underway to reach two more mine workers who have been trapped since Thursday morning.

The men became stuck 90 metres below the surface after a flash flood at the Gleision Colliery near Swansea.

Three other miners managed to escape. For emergency crews, it is a delicate task trying to save those trapped.

(Sourced from euronews.net)

Sekoko in talks with cornerstone investor

2011-09-16T22:58:00.000-07:00

It is reported that Sekoko Resources an empowerment firm in joint venture with the JSE-listed Firestone Energy was in negotiations with a multinational power company regarding it becoming an investor in its Waterberg coal development.

Firestone announced to the JSE today that the negotiations involved very significant offtake agreement for coal over the life of Sekoko project which is the Waterberg Joint Venture Project.

Firestone Energy said “The negotiations are at an early stage and a further announcement will be made in due course.”

Firestone bought a 60% participation right in the Waterberg Joint Venture which is expected to produce first coal from the proposed Smitspan mine in 2012.

(Sourced from miningmx.com)

Bulk carrier runs aground in Rio de Janeiro port

2011-09-16T22:56:00.000-07:00

Reuters reported that the RDB Ocean of Joy a Hong Kong flagged dry bulk carrier ran aground in the Port of Rio de Janeiro recently.

According to information from marinetraffic.com, a world wide ship tracking service, the ship, a 92,500 DWT post Panamax sized vessel was sailing from the Port of Tubarao northeast of Rio de Janeiro in Brazil Espirito Santo state.

Post Panamax ships are too large to pass through the Panama Canal locks.

The Navy said it did not know what was aboard the vessel.

Tubarao, Brazil largest port by volume moved is owned and operated by Rio de Janeiro based Vale SA, the world second largest mining company. Tubarao is Brazil main iron ore port as well as major steel, grains, coal and bulk commodities port. Vale said the ship is not theirs.

Vale press office said it was not the owner either of the cargo or of the vessel. Tugs and support vessels have the situation under control.

(Sourced from Reuters)

Prophecy Coal receives Mongolian government endorsement for power plant project

2011-09-16T22:54:00.000-07:00

Prophecy Coal announced that the Mongolian Ministry of Natural Resources and Energy has officially endorsed its proposed Chandgana Power Plant project.
Last August, the company which is focused on energy, nickel and platinum group metals projects, appointed local Mongolian consultants to initiate feasibility and other studies on the planned 600MW Chandgana mine power plant as Prophecy holds the Chandgana coal deposit in central Mongolia.

The thermal power plant will be connected with Mongolia's existing Central and Eastern energy systems, part of the long-term development policy of the country to supply cleaner energy. It will be built directly beside Prophecy's permitted Chandgana Tal coal project.

The company said that as the power plant project scales up to 4,200MW there is potential to export the surplus power to China, with Beijing located just 1,000 kilometres to the south.

In April 2011, Prophecy submitted its application for power plant licensing to the Mongolian Energy Regulatory Authority which has also received the endorsement. Prophecy said it expects for the ERA to issue its final decision with regards to its application in the fourth quarter of the year.

Prophecy also said that it has been in discussions with several engineering, procurement and construction contractors in the hopes of finalizing an EPC contract immediately following the receipt of the power plant license.

(Sourced from www.steelguru.com)

Baobab Resources update on its activities

2011-09-16T22:50:00.000-07:00

Baobab Resources plc is pleased to present an update of activities at the Massamba Group iron / vanadium / titanium project where a 160 million tonne resource upgrade was announced on 30 August 2011.

Highlight

1. Resource drilling programs at the Massamba prospects of Ruoni North and South have been completed.

2. Analytical results from holes on the first two Ruoni North drill traverses have been returned. The traverses, spaced 170 meters apart defined a broad, heavily mineralized zone from surface dipping moderately to the southwest.

3. Significant drill intercepts up to 73 meters in length, report an average head grade of 41% Fe with saleable DTR concentrate grades averaging 58% Fe, 0.8% V2O5 and 13% TiO2 at a mass recovery of 46%.

4. All Chitongue Grande resource expansion drill samples have reached the ALS laboratory in Australia. Consultant, Coffey Mining Pty Ltd, has commenced preliminary data validation and geological modelling.

5. Drilling has commenced at the Tenge prospect.

Mr Ben James MD of Baobab said "Baobab is pleased to announce that it has completed the scheduled 2011 drilling campaigns required to define the targeted resource base of 300Mt at the Massamba Group. Drilling is continuing in the Tenge area where the Company believes there is an exceptional opportunity to add substantially to the resource inventory.

SinoCoking Coal and Coke Chemical announces results

2011-09-16T22:47:00.000-07:00

SinoCoking Coal and Coke Chemical Industries Inc a vertically integrated coal and coke processor announced its financial results for the fourth quarter and fiscal year ended June 30 2011.

1. Fourth Quarter 2011 vs. 2010

I. Revenue increased by 126% to USD 24,661,738 from USD 10,886,577 mainly due to increased coke sales as well as the increased overall prices for all products.

II. Pre-tax income decreased to USD 15,892,450 as compared to USD 64,831,078.

III. Net income was USD 14,277,144 or USD 0.68 per diluted share as compared to a net income of USD 64,527,083 or USD 3.08 per diluted share.

2. Fiscal Year 2011 vs. 2010

I. Total revenue increased by 26% to USD 74,287,993 from USD 59,027,490 mainly due to increased coke and washed coal sales.

II. Revenue from the sale of coal products increased by 16% to approximately USD 35 million.

III. Revenue from the sale of raw coal products decreased 34% from a year earlier, in spite of the 17% increase in average selling price. As a result of the mining moratorium, we were unable to produce or secure sufficient raw coal from other producers to sell.

IV. Revenue from the sale of washed coal products increased 180% from a year earlier, as we sold some of our washed coal inventory to take advantage of the 40% increase in average selling prices resulting from the increase in raw coal price.

Liverpool Plains mining exploration licenses get the go ahead

2011-09-16T22:42:00.000-07:00

It is reported that the NSW Government tough conditions have been placed on the controversial renewal of two exploration licences covering the Liverpool Plains.

The licences held by BHP Billiton and Shenhua Watermark expired earlier this year.

Mr Chris Hartcher Resources and Energy Minister said BHP-Billiton and Shenhua coal exploration licences on the Liverpool Plains expired in February.

Mr Hartcher has renewed them, but he says community concern about the effect of coal exploration on prime agricultural land has been taken into consideration. He said that "Yes, we want mining, but we want mining on our terms, and our terms are protect the water, protect the agriculture, protect the environment."

Mr Sandy Bloomfield the chairman of Caroona Coal Action Group says he's still deeply concerned. He said that "Renewal on these grounds shows they are not committed to protecting the environment."

He added that "Approvals shall not include longwall mining under deep alluvial aquifers, or the flood plain, and no open cut mining should be allowed on the flood plain. There should be no longwall mining under aquifers and no longwall mining on or under the flood plain as it could damage the underground water supply and storage capacity.”

He also said that "If BHP had no intention of mining then it should be excised from the licence altogether, but it is not and I don't know if we can trust BHP."

The Minister says the renewal of the exploration licenses will not automatically lead to the granting of full mining leases.

A spokeswoman for Shenhua Watermark says the company hasn't received any details about the licence renewal from the State Government and will not comment until it's confirmed.

(Sourced from www.abc.net.au)
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Fortescue rolls out Bamboo across two mines sites

2011-09-16T22:38:00.000-07:00

ASX-listed iron ore producer Fortescue Metals Group Ltd has rolled out Deloitte Bamboo across the company two mine sites operations and expansion areas. The application will be accessed and used by a growing team of employees as the company expands.

Mr Nev Power CEO of Fortescue said “The rollout of Bamboo was part of the company's strong commitment to excellence in safety and emergency response in the mining sector.”

He said that “We believe the key to its effectiveness is how it allows our people, during an incident to easily access critical information from their mobile devices while improving our leaders response times."

Deloitte Risk Services Partner Oliver Binz said “Bamboo was designed to create clarity during an emergency situation. This tool is about helping employees and employers access critical information in an emergency when they need it. Using push technology, it ensures that people have the latest up to date information right there on their smartphone.”

Mr Binz said “Paper based plans have lots on limitations. Even if you can keep them up to date, most people simply don’t have access to the files when they need them most. Many Queensland businesses learnt this the hard way during the Christmas floods and Cyclone Yasi. With Bamboo and staff are able to access their individual action plans, regardless of location or mobile network connectivity.”

He said that “Bamboo also leverages the capabilities of smart devices to deliver many additional benefits, such as being able to locate team members subject to network availability, direct people to evacuation sites or communicate easily with specific teams using email, SMS or phone.”

He added that “For organisations, effective incident management is all about minimising the negative impact on its people, its customers and its operations. Bamboo does exactly that.

He also said “We are very proud to have received recognition in the form of this award, and also to be working with Australian mining icon Fortescue.”

India and Turkey to cooperate in coal sector

2011-09-15T22:55:00.001-07:00

Mr Sriprakash Jaiswal minister of coal met Mr Taner YILDIZ minister for energy and natural resources government of Turkey and other officials on the sidelines of the 22nd World Mining Congress inaugural session on September 12th 2011 at Istanbul, Turkey.

Mr Jaiswal is leading an Indian delegation there to participate in World Mining Congress. Both the ministers discussed about the energy situation in the two countries, particularly the field of coal mining.

India’s coal minister offered technical cooperation to develop coal and lignite deposits and coal washing in Turkey. Turkey’s Energy Minister evinced keen interest for technical cooperation with India in coal mining and clean coal technologies. He said that Turkey is planning to set up some 15000 MW coal based power generation plants and requested Indian companies to participate in the tenders. Both the ministers agreed for future cooperation in coal related areas.

Rio Tinto Finance Limited prices USD 2 billion of fixed rate bonds

2011-09-15T22:53:00.001-07:00

Rio Tinto has priced USD 500 million of five year, USD 1.15 billion of 10 year and USD 350 million of 30 year SEC-registered debt securities. The bonds will be issued by Rio Tinto Finance Limited and will be fully and unconditionally guaranteed by Rio Tinto Plc and Rio Tinto Limited.

The five year notes pay a coupon of 2.25% and will mature on 20 September 2016. The 10-year notes pay a coupon of 3.75% and will mature on 20 September 2021.

The 30 year notes mature on 2 November 2040 and constitute a further issuance of the USD 500 million 5.20% notes due 2040 that were issued on 2 November 2010 and the USD 300 million 5.20 per cent notes due 2040 that were issued on 20 May 2011. Upon issuance of the bonds, USD 1.15 billion of the 5.20% notes due 2040 will be outstanding.

Barclays Capital Inc, BNP Paribas Securities Corp, Morgan Stanley & Co LLC, Citigroup Global Markets Inc, HSBC Securities Inc and SG Americas Securities LLC acted as Joint Bookrunners.

Sydney Catchment authority resists coal seam gas

2011-09-15T22:51:00.000-07:00

It is reported that the board of the Sydney Catchment Authority is pushing to strengthen its powers to control coal seam gas exploration.

Documents obtained by the ABC reveal increasing concern among board members about the impact of coal seam gas wells on water quality in special protected catchment land in the Woronora and Illawarra areas.

The board has decided the full impact of coal seam gas projects needs to be spelled out before exploration can start. The documents show it was only after Apex Energy exploration wells were approved by the state's Primary Industries Department that the authority board asked if access to protected drinking water catchments could be withdrawn.

The board has decided it will not approve access for a new well in
protected land which is about to be referred to the NSW Planning Assessment Commission.

Apex says the well is crucial for its USD 7 million project, and the company will appeal if it is refused.

(Sourced from www.abc.net.au)

Evergreen Energy announces successful completion of Penrhyn coal testing

2011-09-15T22:42:00.001-07:00

Evergreen Energy Inc announced that it had successfully completed its Penrhyn coal testing utilizing Evergreen's patented K-Fuel(R) upgrading process.

The Penrhyn coal deposit is located in South Australia and a drilling to date has confirmed a JORC compliant measured and indicated resource of 352.4 million tonnes of coal with an additional exploration target of a further 300 to 330 million tonnes of coal. The Penrhyn coal deposit is owned by Southern Coal Holdings a joint venture between WPG Resources Limited and Evergreen.

On August 23, 2011, Evergreen announced that it had upgraded Penrhyn coal to K-Fuel with heating values greater than 5,500 kilocalories per kilogram prior to the rehydration necessary for shipping and storage. Further testing has now provided a more comprehensive view of the product quality from the Penrhyn deposit.

Mr Ilyas Khan Evergreen Chairman said "We are particularly pleased with the K-Fuel(R) process and our ability to upgrade the Penrhyn coal to an export grade fuel product with a heating value that is shippable of at least 5,000 kilocalories per kilogram. This represents an increase of approximately 25% to 40% over the unprocessed coal. Additionally, the K-Fuel(R) process has reduced sodium by up to 50% and chloride by up to 70% in the final product."

He said that "These testing results are a milestone for the WPG and Evergreen stakeholders, as well as the clean coal industry. Our completed testing confirms that a latent sub-bituminous coal deposit in Penrhyn can be upgraded to thermal coal quality. Our results are in-line or in excess of expectations and continue to demonstrate the potential for the K-Fuel(R) process to add value to low rank coal resources around the world. Our team will continue working to further enhance the value of the K-Fuel(R) process. In parallel we are working towards completing pre-feasibility studies for mine and K-Fuel(R) plant developments for the Penrhyn and Lochiel North coal deposits."

Mr Wayne Rossiter CEO of SCH said "These testing results are an important milestone in underpinning our business model for the development of a low ranking coal beneficiation business in Australia using the proven K-Fuel(R) process."

ArcelorMittal Princeton receives 2010 Large Surface Mine Safety Award

2011-09-15T22:40:00.000-07:00

ArcelorMittal Princeton (USA) announced that Extra Energy's Virginia Point Surface Mine, wholly owned by ArcelorMittal, has been awarded the 2010 Large Surface Mine Safety Award by the Virginia Division of Mines, Minerals and Energy.

In 2010 the Virginia Point Surface Mine logged 201,383 man hours and produced 575,177 tonnes of coal. All of this was accomplished while reducing the NFDL (non fatal days lost) incident rate from 3.49 in 2009 to 0.0 in 2010 making the Virginia Point Surface Mine the safest and most productive large surface mine in Virginia.

ArcelorMittal's Twin State Mining's Highwall Miner #55 won the same award in the Small surface mine category. The Highwall miner is also located and operated on the Virginia Point Surface Mine property and reduced the NFDL incident rate from 6.43 in 2008 to 0.0 in 2009 and remained at 0.0 in 2010.

In addition Keith Casey the Superintendent for Twin State Mining's Highwall Miner #55 won an individual award for working 17 years without a lost time accident. Mr. Casey has been employed with Twin State Mining for 4.5 years in various positions.

Extra Energy mines the reserves that can be safely and economically mined using surface mining techniques and Twin State mines the reserves that are not surface mineable or cannot be mined underground by the traditional room and pillar mining technique. This award shows the amount of teamwork and focus that these two companies employ to make Virginia Point Surface Mine the Safest and most Productive Mine in Virginia.

Mr Randy Moore chief of VADMME and Mr John Brown inspector for VADMME were present and on site August 18th 2011 to present this award. Ray McKinney, District Manager of Mine Safety Health Administration District 5 called ArcelorMittal Princeton's Safety Department to congratulate the company on this accomplishment and was represented at the ceremony by Dale Hess, Supervisor of MSHA District 5 Vansant Field Office.

Mr Greg Jessee president CEO of ArcelorMittal Princeton said that "I am very pleased with all the efforts that have been put forth from everyone involved with this operation. We feel strongly that the push for safety has and is changing the culture at ArcelorMittal Princeton. To be awarded number one in the state in both Large Surface Mine and Small Surface Mine is a great honor that didn't happen by chance. Starting in the second half of 2009 ArcelorMittal Princeton expanded its safety department and made a commitment to put SAFETY FIRST ALWAYS. ArcelorMittal Princeton feels this is a great accomplishment but certainly not the end. We are implementing the Courageous Leadership Program in hopes to sustain and maintain a 0.0% NFDL and expect to win these Awards again in 2011. This is one more step on our Journey to Zero.”

Hannans Reward kicks off drilling targeting manganese at Jigalong project

2011-09-15T22:37:00.001-07:00

Hannans Reward has commenced a combined reverse circulation and diamond drilling program targeting manganese at its 3,000 square kilometre Jigalong project in the South-East Pilbara region of Western Australia.

The project is well located adjacent to FerrAus Ltd iron ore project, 5 kilometres from Consolidated Minerals Ltd Coobina chromite mine, 40 kilometres south of Minerals Resources Nicholas Downs manganese mine and 150 kilometres south of Consolidated Woodie Woodie manganese mine.

Drilling has commenced at the Hill 616 manganese prospect and is expected to be completed by late October or early November. Hill 616 will be tested initially with a planned 163 reverse circulation holes for about 4,500 metres. RC drilling at Dead Camel manganese is scheduled to commence in early October. The company expects the first batch of results to be available in late October.

A further 12 Diamond holes will be drilled at Hill 616 for approximately 400 metres, with the resulting core to be used for metallurgical test work purposes. Field work has confirmed that there is extensive manganese mineralization within the project area and that its likely Hannans will outline sufficient manganese mineralization from the RC and diamond drill program to lodge a mineralization report with the Department of Mines & Petroleum.

(Sourced from www.proactiveinvestors.com.au)

China Coal Energy August coal sales up by 18pct YoY

2011-09-15T22:35:00.000-07:00

China Coal Energy Co Ltd produced 8.84 million tonnes of commercial coal in August up by 16.9%YoY.

The volume of coal sales increased 18.3%YoY to 11.63 million tonnes, including 8.14 million tonnes sold in the domestic market, with year-on-year increase of 15%.

(Source: www.steelhome.cn)

To keep tab on real time prices in China, send a mail to admin@steelprices-china.com

China iron ore spot prices fall and traders pessimistic

2011-09-15T22:32:00.000-07:00

Reuters reported that spot iron ore prices in China extended losses on Thursday amid lacklustre buying, as steel mills and traders remained concerned about steel demand in the fourth quarter, dragging key iron ore indexes to multi-week lows.

Chinese industry consultancy Umetal.com said offers of Indian ore with 63/63.5% Fe grade stayed flat at USD 186-188 per tonne on Thursday with traders adding that sales were mostly made at a lower range.

An iron ore trader in Shanghai said "Steel mills are unwilling to buy iron ore at higher than USD 187 from small mines and iron ore prices would likely fall further as steel demand could weaken over the next few months."

Traders said BHP Billiton sold Newman iron ore fines at USD 182 a tonne including freight at a tender held on Wednesday down about USD 1.35 from its previous deals.

The recent slide in prices has come on the heels of a swift and solid rally over the past two months which saw iron ore climb around 8% from July to above USD 190 a tonne last week amid strong steel output as well as the continued supply tightness in India.

The trader added that "We can't rule out any possibility that iron ore prices may fall to below USD 180 in the fourth quarter, given steel prices are still fluctuating while iron ore supply will rise as India's Goa region will resume exports after the monsoon season."

In a sign that China steel sector outlook was getting increasingly murky, local prices extended their recent losses as mills and traders fret over the renewed recession in the United States and the eurozone sovereign debt woes.

(Sourced from Reuters)

Aquila dips into the red as exploration program cuts into earnings

2011-09-15T22:23:00.000-07:00

It is reported that an active exploration program more than wiped out stronger earnings from Aquila Resources Isaac Plains coal mine resulting in the company posting a net loss of USD 64.6 million in the year to June.

Earnings benefited from surging coal prices which more than offset production constraints arising from waterlogged operations after the floods in central Queensland earlier in the year. Sales have also been hampered by a dispute with joint venture partner Vale over marketing of the coal.

Coal production in the year fell to 1.56 million tonnes from 2.5 million tonnes a year earlier with coking coal output of 233,000 tonnes down from 664,000 tonnes and output of pulverised coal, which is injected directly into the blast furnace, rising to 766,000 tonnes from 635,000 tonnes. The balance of the production is made up of steaming coal.

Revenue rose to USD 133 million from USD 129 million a year earlier wi
th earnings before interest, taxation depreciation and amortisation increasing to USD 36.3 million from USD 15.6 million a year ago. Aquila has only the Isaac Plains mine in production although it is spending actively to develop a suite of coal, iron ore and iron mines across Australia and Africa.

This resulted in exploration and evaluation spending rising to USD 102.4 million from USD 60.2 million a year earlier which Aquila writes off immediately, unlike some miners who capitalise much of this spending.

Even with the heavy spending program, Aquila still has sizeable cash reserves of USD 184 million, and no debt which will help it to achieve part of its growth ambitions.

The company remains mired in litigation with its joint venture partner, Brazilian resources group Vale Resources, over the development of several of the group's assets.

Earlier this month, the Queensland Supreme Court ruled against Vale in a dispute over the Eagle Downs coking coal project saying Vale has not acted in good faith or in the best interests of the joint venture'.

(Sourced from www.smh.com.au)

Mongolian Government endorses Chandgana Power Plant Project

2011-09-15T22:19:00.000-07:00

Prophecy Coal Corp announces that its Chandgana Power Plant Project has been officially endorsed by the Mongolian Ministry of Natural Resources and Energy. The Mongolian Energy Regulatory Authority in charge of power plant license issuance has received the endorsement and is expected to issue a final response to Prophecy's license application in Q4 2011.

The request for licensing of "Construction of Energy Buildings and Installations" submitted by East Energy Development LLC a wholly owned Mongolian subsidiary of Prophecy in April 2011 was determined to be in full conformity with Clause 2 of Article 12, Energy Law. The company has undergone a rigorous power plant permitting process which included Environmental Impact Assessment approval by The Mongolian Ministry of Nature and Environment and support from the Mongolian Scientific and Technical Council. The power plant will be built right next to Prophecy permitted Chandgana Tal Coal Project.

Results from the Power Plant Feasibility Study by Evonik Industries and the Chandgana Tal Mine Study by Leighton Asia are expected in Q4 2011. In parallel, Prophecy has been in discussion with a number of potential Engineering, Procurement and Construction contractors with the goal of finalizing EPC selection expeditiously after the power plant license is obtained.

Prophecy cash position and equity holdings total over USD 90million as of September 1 and the company expects to fully fund the Chandgana project studies through to project financing.

Prophecy appreciates the support from the Mongolian Ministry and the community at large. The company looks forward to making the Chandgana Power Plant a reality and helping satisfy Mongolia and the region energy needs.

Cobalt Coal announces private placement financing to raise USD 6 million

2011-09-15T22:12:00.000-07:00

Cobalt Coal Ltd announced that it has engaged Mackie Research Capital Corporation to act as lead agent on a financing for the Company to raise USD 6,000,000 through the completion of a brokered private placement. The Offering will be in the form of common shares of the Company at a price of USD 0.12 per Share.

The entering into of the engagement letter with Mackie to act as lead agent of Cobalt for the Offering is in furtherance of previous press releases made by Cobalt over the last three months including the June 8 2011 and July 21 2011 press releases regarding the restructuring initiatives that management of Cobalt has determined are necessary to transition the Company into a profitable, producing metallurgical coal mining company.

The Offering is subject to the approval of the TSX Venture Exchange. Pursuant to applicable securities laws, all securities issued pursuant to the Offering will be subject to a hold period of four months following the closing of the Offering.

With the closing of certain restructuring transactions and the completion of a minimum private placement of $2,078,500 on August 19, 2011, Cobalt has
I). Retired certain of its senior debt
II). Acquired the Westchester Coal Limited Partnership
III). Acquired a continuous miner
IV). Reduced the amount of Cobalt debentures outstanding such that the balance of the remaining outstanding debentures are expected to be repaid from Cobalt's cash flow by December 15 2011.
As a result of the decrease in the outstanding debt only USD 1,000,000 of the proceeds raised through the Offering will be used to retire debt, specifically the residual indebtedness to Cobalt senior lender. The remainder of the proceeds of the Offering will be used to acquire mining equipment to perform infrastructure upgrades at Cobalt Westchester/Westchester Expansion mine and for working capital purposes.

Management of Cobalt remains confident that production volumes will increase and operating costs will be materially reduced as a result of the addition of the new equipment and the completion of the proposed infrastructure upgrades.

In connection with the Offering, Cobalt will pay cash commission and grant compensation options to Mackie to purchase 8% of the number of Shares sold under the Offering with each Compensation Option entitling the holder to purchase one Share at USD 0.12 per Share for a period of 18 months from the closing of the Offering.

Canada threatens to tighten coal plant emissions rules

2011-09-15T03:22:00.000-07:00

It is reported that Mr Peter Kent Federal Environment Minister of Canada is serving notice that he won't tolerate companies trying to sneak around pending regulations to clamp down on greenhouse gas emissions.

Mr Kent said regulations for coal-fired electricity plants are not yet final and he could still change the rules especially if corporate interests are trying to skirt them. He added that "Until the final regs are written, they're not written. He emphasized that he has changed regulations at the last minute before for biofuels and he wouldn't hesitate to do it again if necessary.”

He also said in the interview the aim of that grace period was to make sure there was no stranded capital long term investments made under the old regime that would be rendered worthless if the new rules were to apply right away.

Mr Kent said he never intended to create a loophole that would prompt companies to build rule-breaking plants quickly. He suggested he will close that loophole, if necessary.

Calgary-based Maxim Power Corp. is rushing to build a coal-fired plant in western Alberta that would emit far more greenhouse gas than proposed federal regulations would allow. However, under the new regulations, a company already operating by July 2015 could take 45 years to comply.

Maxim officials have told the Alberta Utilities Commission the company had assurances from Environment Canada that its plant would fall under existing rules as long as it is up and running by that time.

Environment Canada has never backed up that claim, environmentalists pointed out.

One option could include changing the date when the stricter standards apply to new plants. The clock would not start ticking for older plants until July 2015 but new plants would face an earlier compliance date.

(Sourced from www.winnipegfreepress.com)

Consol Energy gets the last laugh on shale deal

2011-09-15T03:18:00.000-07:00

It is reported that Eighteen months ago, Consol Energy Inc bought Dominion Resources Inc Appalachian natural gas properties for USD 3.5 billion giving the coal producer a big position in the Marcellus Shale natural gas field.

At the time, Wall Street disapproved. Consol shares fell more than 9%. Consol looks clever now.

The Canonsburg, Pa Company announced it would receive USD 593 million from Hess Corp for a joint venture to explore and develop Consol 200,000 acres of Utica Shale in Ohio much of it acquired from Dominion.

The Hess deal comes a month after Consol signed a USD 3.4 billion joint venture with Noble Energy Inc. of Houston to develop about 663,500 acres of Marcellus Shale leases in West Virginia and Pennsylvania, much of it former Dominion property.

Mr J Brett Harvey Consol chairman and chief executive officer said "We got basically our money back on the Dominion thing, and we own all our resources still. So we're in a really good position. And we're bringing in specialists."

Mr Harvey in an interview on the sidelines of the Shale Gas Insight conference in Philadelphia this week said the joint ventures would combine the specialized operational skills of big international oil producers such as Hess and Noble with Consol knowledge of the geographic and political terrain in Appalachia.

He said the new joint ventures illustrated the rapidly expanding assessment of the Marcellus which has attracted billions in investment from major oil producers. He added that "When we did the Dominion acquisition 15 months ago, we valued the Utica at zero. The deal with Hess this week for a half interest in part of its Utica acreage is worth USD 600 million.”

Mr Harvey said "This is all happening very rapidly. He said that you'd never see us go to the gulf and do something. But if it's in your own backyard, in Pennsylvania, West Virginia and Ohio that's who we are."

Consol valued the 2010 Dominion acquisition largely for how its Marcellus properties fit with Consol existing coal fields. The Utica Shale which underlies some of the Marcellus and is now attracting attention for its oil and natural gas potential did not enter the equation.

(Sourced from www.philly.com)

Evergreen Energy announces successful completion of Penrhyn coal testing

2011-09-15T03:02:00.000-07:00

Evergreen Energy Inc announced that it had successfully completed its Penrhyn coal testing utilizing Evergreen patented K-Fuel upgrading process.

The Penrhyn coal deposit is located in South Australia and a drilling to date has confirmed a JORC compliant measured and indicated resource of 352.4 million metric tons of coal with an additional exploration target of a further 300 to 330 million tonnes of coal. The Penrhyn coal deposit is owned by Southern Coal Holdings a joint venture between WPG Resources Limited and Evergreen.

On August 23 2011 Evergreen announced that it had upgraded Penrhyn coal to K-Fuel with heating values greater than 5,500 kilocalories per kilogram prior to the rehydration necessary for shipping and storage. Further testing has now provided a more comprehensive view of the product quality from the Penrhyn deposit.

Mr Ilyas Khan Evergreen Chairman said "We

He said that "These testing results are a milestone for the WPG and Evergreen

stakeholders as well as the clean coal industry. Our completed testing confirms that a latent sub-bituminous coal deposit in Penrhyn can be upgraded to thermal coal quality. Our results are in line or in excess of expectations and continue to demonstrate the potential for the K-Fuel(R) process to add value to low rank coal resources around the world. Our team will continue working to further enhance the value of the K-Fuel(R) process. In parallel, we are working towards completing pre -feasibility studies for mine and K-Fuel(R) plant developments for the Penrhyn and Lochiel North coal deposits."

Mr Wayne Rossiter CEO of SCH said "These testing results are an important milestone in underpinning our business model for the development of a low ranking coal beneficiation business in Australia using the proven K-Fuel(R) process."

Iron ore spot offers slip below USD 190 per tonne

2011-09-15T02:25:00.000-07:00

Reuters reported that spot iron ore prices fell below USD 190 per tonne on Wednesday as Chinese steel mills continue to stay on the sidelines of the seaborne market as steel prices fall despite the traditional consumption peak season.

Steelmakers in China, the world top iron ore buyer and steel producer, have stepped away from imports and have preferred to buy domestic ore to lower production costs after offers inched above USD 190 per tonne last week.

An iron ore trader in Beijing said "Spot prices have fallen by USD 1 to USD 2 to below USD 190 per tonne this week and I am uncertain on the outlook for iron ore prices in the fourth quarter as construction activity will slow down reducing demand for steel and iron ore."

Shanghai rebar extended losses on Wednesday tracking Asian equities and other commodities amid euro crisis fears have discouraged steel mills from buying large volumes of the raw material.

The benchmark January rebar contract fell to a more than two week low of CNY 4,763 per tonne down by 0.4% from the previous close.

China is expected to extend its anti-inflation campaign and is unlikely to ease its tight monetary policy in the months ahead which will make it more difficult for steel mills to obtain sufficient credit for a large restocking of iron ore.

(Sourced from Reuters)

Global Earth Energy announces closing of coal properties

2011-09-15T02:15:00.000-07:00

Westmoreland wins top national award for mine reclamation

2011-09-15T02:13:00.000-07:00

Westmoreland Coal Company announced that its Western Energy Company subsidiary has been selected to receive an Excellence in Surface Coal Mining Award from the Office of Surface Mining for its reclamation efforts at Western Energy Company Colstrip Mine in Colstrip, Montana.

The Excellence in Surface Coal Mining Awards are presented to coal mining companies that achieve the most exemplary mining and reclamation in the country. Western Energy Company is the 2011 recipient of the Directors Award for exemplary use of geomorphic reclamation techniques.

Mr Keith E Alessi CEO said "This is the third time that Western Energy has received an Excellence in Surface Coal Mining Award since 2005 which is a direct reflection of the mine commitment to environmental stewardship. The Director award is among the highest reclamation distinctions in the coal mining industry
and Western Energy is extremely honored to be recognized again by the Office of Surface Mining for its reclamation achievements."

The company's award entry highlighted the history of incorporating geomorphic characteristics into reclamation designs. This process began in cooperation with the Montana Department of Environmental Quality in the early 1990s and was refined in reclamation work completed in 1996 and 1997. It has been most recently used in final reclamation work completed in 2004 and 2010. The goal has been to replace premining topographic diversity and native vegetation types that would have been lost using the standard reclamation techniques of the early 1990s.

Western Energy will receive the Directors Award for its geomorphic reclamation techniques on October 17th during an awards ceremony in Washington DC.

French utilities oppose government gas price freeze

2011-09-15T02:08:00.000-07:00

Reuters reported that French utilities have appealed against a government decision to freeze household gas prices that they claim prevents power group GDF Suez from covering higher raw material costs and impedes fair competition.

Energy utilities association Anode said the government refusal to pass on higher energy costs is unsustainable for 36% state-owned GDF Suez and could harm competitors such as Poweo, Altergaz and Vattenfall

The association added that the move which Anode called illegal could also put off foreign companies from setting up shop in the French market. Anode has taken the case to France highest administrative court, the Council of State.

Anode said "One day or another (a price increase) will be passed onto consumers. The tariff freeze will only be temporary they will all need to pay the bill in the end including the adjustments which will be even more painful."

The government decision earlier this year to freeze gas tariffs for households until October was widely seen as a political move ahead of next year presidential election.

Anode complaint follows concerns expressed by the French energy regulator earlier this year that a tariff freeze hampered the functioning of the natural gas market and that passing on higher raw material prices to consumers was legitimate.

(Sourced from Reuters)

Metso to deliver biomass boiler to We Energies in Wisconsin

2011-09-15T02:03:00.000-07:00

Metso will supply a biomass boiler to the We Energies/Domtar Biomass Energy Project owned by We Energies. The biomass boiler is a key component of a major investment to build a new biomass-fueled cogeneration power plant which will be located at the Domtar Mill in Rothschild, Wisconsin, USA. The value of the order will not be disclosed.

The biomass boiler plant will utilize circulating fluidized bed technology and will use waste wood from logging and mill activity, tree trimming and sawdust as the main fuel. The plant will produce approximately 50 megawatts of renewable electric power and provide process steam to the mill.

Mr Al Mihm project director at We Energies said “We chose Metso for our biomass project based on their proven biomass experience and robust boiler design features, coupled with their strong organizational commitment to sustainable technologies. We fully expect to realize the project goals of cogenerating cost-effective renewable electric power and process steam while reducing overall emissions at the Domtar Rothschild mill.”

Mr Robert Deneault General Manager Capital Sales at Metso Power business line in North America saidn “Metso is proud to be chosen by We Energies for such an industry-leading collaboration. This order continues to reinforce Metso’s commitment to be the pre-eminent supplier of bioenergy plants”.

Mr Dave King President at Metso’s Power business line in North America said “Once built, this boiler will join a fleet of 33 Metso CFB boilers already operating in the US and this one will be the largest and most efficient biomass fired boiler of them all.”

The commercial operation of the plant is scheduled for 2013. The value of the order is included in the Energy and Environmental Technology second quarter 2011 orders received.

Honda to launch Brio

2011-09-08T02:40:00.000-07:00

Honda's first small car for the mass market, Brio will be launched this month. The car is expected to be priced at INR 0.42 million to INR 0.45 million to compete with Maruti's Swift, Volkswagen's Polo, Ford's Figo, Hyundai's i10 and Toyota's Liva.

Honda has developed Brio after five years of painstaking research of the Indian market, keeping in view the local conditions and specifically catering the car to typical Indian families. The car has a 1200cc petrol engine which generates power to the tune of 90 BHP.

Honda wants to tap the huge potential in smaller cities to ensure the Brio takes on competitors and revive its flattening sales.

Auto companies have been focusing more on smaller cities, which have given huge incremental volumes and helped car sales to zoom over 30% in 2010.

Honda, maker of City, Civic, Accord, Jazz and CR-V, has mostly been confined to metros even as other carmakers have hit the country roads to gain huge incremental volumes that helped car sales rise more than 30% in 2010.

Pipavav to allot INR 81 crore warrants to Rakesh Jhunjhunwala

2011-09-08T02:37:00.000-07:00

Pipavav Defence and Offshore Engineering Company Limited (formerly Pipavav Shipyard) said that its board has approved issue of securities worth INR 81.90 crore to ace investor Rakesh Jhunjhunwala, his wife Rekha Jhunjhunwala and his close associate Utpal Sheth.

The company in a filing to the Bombay Stock Exchange said that the securities amount to 10,500,000 warrants. It added that Rakesh Jhunjhunwala and his wife would be alloted 5,000,000 warrants each, while Utpal Sheth will get 500,000 warrants.

Besides this, the company Board also approved issue of 1 crore warrants, worth INR 78 crore to its promoters Grevek Investments and Finance Pvt Ltd.

The filling said that each warrant, issued at a price of INR 78, is convertible into one fully paid up equity share of INR 10 each of the company, at any time within 18 months from the date of allotment.

IOC buys 5 million barrels of West Africa crude

2011-09-08T02:32:00.000-07:00

Indian Oil Corp has bought about 5 million barrels of West African light crude, all from majors, via its tender to buy oil for November loading.

Traders said that India's largest refiner bought Nigerian Yoho and Equatorial Guinea's Zafiro from Shell, Nigerian Amenam and Angolan Girassol from Total and Nigerian Escravos from Chevron

Price details did not emerge. It is not clear if IOC has issued the next tender yet.

A trader said that "They have taken 5 cargoes in November on the first tender, it looks like good, or perhaps we should say a return to normal demand.”

In October, IOC bought only 2 million Some said IOc's tenders have been further out as the Nigerian market is still trading end-October cargoes, giving advantage to oil majors that have equities in African oil producers.

TATA Power Club Enerji spreads the message on conservation in Belgaum

2011-09-08T02:16:00.000-07:00

TATA Power India’s largest Integrated Private Power Company has been associated with various community programs in Belgaum, specifically in the area of education and environment conservation.

In continuation with these efforts, TATA Power organized an Energy conservation camp at the Government Kannada Medium School at Mahantesh Nagar, Belgaum on August 12th2011 under its national energy conservation program called TATA Power Club Enerji (formally known as TATA Power Energy Club).

With the increasing demand for energy and depleting natural resources, effective management and conservation is the need of the hour. ‘TATA Power’s Club Enerji’s main aim is to inculcate civic responsibilities and leadership qualities in children to better manage their tomorrow and also help them spread the conservation message to their parents, peers and society at large.

GP steel HDG price update on September 7

2011-09-08T02:11:00.000-07:00

GP
100Gms
0.40

Location	Change
Mumbai	523
Chennai	0
Kolkata	0
Delhi	0
Ludhiana	0
Kanpur	0
Rudrapur	0
Bangalore	0

Change is on 7th September as compared to 6th September 2011
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

(Sourced from www.steelprices-india.com)

GC steel HDG price scenario on September 6

2011-09-06T23:59:00.000-07:00

GC
100Gms
0.40

Location	Change
Bangalore	0
Chennai	0
Delhi	0
Kanpur	0
Kolkata	0
Ludhiana	91
Mumbai	0
Rudrapur	0

Change is on 6th September as compared to 5th September 2011
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

(Sourced from www.steelprices-india.com)

MMX doubles iron ore resources

2011-09-03T01:56:00.000-07:00

Brazilian mining company MMX, controlled by billionaire magnate Eike Batista, said that a certification study showed the firm's iron ore resources stood at 3.1 billion tonnes, more than twice the previous estimate.

MMX in a statement that SRK Consulting carried out the study at Serra Azul its principal mine, as well as the Pau de Vinho mine. The new estimate was 106 percent higher than the previous one in March.

Mr Roger Downey president said the resources are sufficient for MMX to reach its production target of 46 million tonnes of iron ore per year by 2016.

(Sourced from Reuters)

Miners to strike over stalled enterprise talks

2011-09-03T01:54:00.000-07:00

More than 4,000 central Queensland mine workers will walk off the job in the next few days as part of ongoing enterprise bargaining negotiations.

Staff at seven BHP mines will take part in the protected action, with rolling stoppages at Goonyella and Peak Downs mines already underway.

Mr Steve Pierce from the Construction, Forestry, Mining and Energy Union said that job security is a major sticking point. He said that more talks are scheduled for next week but further action will be taken if they cannot reach an agreement.

Mr Pierce said that "They are committed to pursuing that form of action if it's necessary. They would rather have a position where we reach a settlement on the agreement through negotiation but as I said they believe that their claims are reasonable and they have a rightful and legal right to put them forward and have them dealt with."

Baltic index rallies capes at near 9 month high

2011-09-03T01:50:00.000-07:00

The Baltic Exchange's main sea freight index which tracks rates to ship dry commodities, rose to its highest in nearly eight months on Thursday as a surge in coal and iron ore bookings on the larger capesizes bolstered sentiment and earnings.

Brokers said a growing ship glut was set to cap dry bulk freight rate gains in the coming months.

The overall index rose 3.89 percent or 63 points to 1,682 points, in a second day of gains and was at its highest since Jan. 4. Before Wednesday's rise it had fallen for three sessions. The index had hit a near seven-month high last month.

Brokers said firmer coal and iron exports from Australia had boosted the capesize market.

RS Platou Markets said that "The fixture activity accelerated in both basins with Pacific and Transatlantic round voyage rates seeing the maximum gains as charterers rushed to fix open cargoes.”

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Oceanic Iron hits 39pct iron at Ungava Bay

2011-09-03T01:47:00.000-07:00

Oceanic Iron Ore announced assay results from its 2011 resource verification drilling program in the Hopes Advance area of its Ungava Bay iron deposit in the Nunavik Region of northern Quebec.

The program focused on the Castle Mountain, Zone 2, and Zone 4 areas, and compared them to their corresponding historic drill hole, whose results are from the mid- to late-1950s.

Notable results from the program found 35.85 metres grading 39.9% iron in hole HA-11-018, on Zone 2. This hole corresponded with historical drill hole E136, which had returned 47.11 metres grading 33.4% iron.

On Zone 4, hole HA-11-023, which corresponded with the 43.82 metres grading 36.6% iron in historical hole R101, returned 39.4% iron over 46.19 metres.

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Banks Group calls for changes in planning regulations on coal mining

2011-09-03T01:45:00.000-07:00

A county Durham Mining and development firm has called for changes in the planning regulations on coal mining, so it can invest more in renewable energy.

The family owned Banks Group has called on the Government to remove the presumption against coal mining which presently exists, as it reviews planning regulations. The Durham City based firm, which runs surface mines across northern England and Scotland, also has an expanding renewable energy division which has secured a number of multi million pound onshore wind farm projects.

Mr Mark Dowdall, environment and community director at the Banks Group, employing 400, said it was partly through its coal mining operations that it was able to afford to invest in renewable energy research. The firm put its concerns to planning minister Mr Bob Neill, who visited one of its mines in Northumberland, and called for the presumption against coal mining to be removed.

Lanco termination of coal supply pact wrong - Perdaman

2011-09-03T01:42:00.000-07:00

After Lanco Infratech announced recently the formal termination of coal supply pact with the company, Australia's Perdaman Industries termed the Indian group's move as "wrongful".

Perdaman in a statement said that "Immediately upon receipt of the purported notice of termination Perdaman gave notice to Griffin Coal and Lanco that the purported termination was wrongful and a further breach of the Coal Supply Agreement (CSA) by Griffin.”

Amid the two companies locked in a AUD 3.5 billion legal tussle in Australia, Griffin Coal a subsidiary of Lanco has terminated the coal supply agreement with Perdaman Chemicals and Fertilizers.

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Metso increase growth and stronger global market position

2011-09-03T01:37:00.000-07:00

Metso Corporation’s Board of Directors has decided to modify the company’s business structure in order to more effectively reach the company’s future business targets.

According to the decision, Metso’s Power business, which is presently part of Energy and Environmental Technology segment, will be integrated with Paper and Fiber Technology segment. Recycling business, also currently part of Energy and Environmental Technology, will be managed as a separate entity and Metso will review other strategic alternatives for it.

Mr Matti Kähkönen CEO of Metso said that “Our order book is currently at the record high level giving us good backbone for further development. To ensure continued profitable growth and value creation of Metso, and to gain the critical size needed to be competitive, we have made decisions to sharpen our business portfolio. We are focusing on businesses in which we can have a strong global market position and in which services and technology close to the customers are decisive competitive advantages. Short and long term value creation through growth and profitability development has been the major factor in selecting the way forward. Additionally, with this decision, we aim to increase the simplicity and transparency of Metso’s businesses.”

Titan Iron Ore commences geological program at Labrador Trough Property

2011-09-03T01:34:00.000-07:00

Titan Iron Ore Corp announced that it has begun a geological reconnaissance survey of its Titan Trough project in northern Quebec, Canada.

This property currently consists of two claim blocks consisting of 202 claims totaling approximately 22,000 acres. Titan's claims overlay a strong and pronounced geophysical magnetic anomaly typical of the iron formations of the Labrador Trough in which it is located. The areas under claim stretch over a North South axis of more than 40 miles and are from 3 to 6 miles wide in an East West direction.

The Company has contracted with Peter Bambic, a professional geologist with more than 30 years experience in this environment, to conduct the survey on the Company's behalf. In order to cover the maximum amount of ground and to provide access to all of the Company's property, the work will be supported by helicopter temporarily based at the town of Kuujjuaq on the shores of Ungava Bay. Traverses and survey lines will be run across the strike of the anomaly at points selected to coincide with magnetic highs. Geologic structures will be mapped and recorded and samples gathered for later analysis at SGS laboratory at Lakefield, Ontario.

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