VSTEP Delives Crane Simulator in Rotterdam

VSTEP delivers crane simulator for EMO, the largest transshipment terminal for coal and iron ore in Western Europe.

For EMO, the largest transshipment terminal for coal and iron ore in Western Europe, VSTEP created a crane simulator for preparation and training of their future and current EMO dry bulk crane operators, increasing their effectiveness and precision.

EMO is one of the leading companies in the dry bulk market. Modern and multifunctional, the EMO terminal is strategically located at the Maasvlakte in Rotterdam. EMO has some 400 permanent employees altogether who are responsible for a yearly turnover of EUR 146 million.

The VSTEP crane simulator incorporates high quality sound effects and visuals with true-to-life dynamics for crane swinging and gravity pull. The advanced collision and cargo spilling model immediately shows the consequences of improper crane operation. The crane simulator includes full crane functionality and control console for realistic loading and offloading simulation and training as well as post training review and scorekeeping.

EMO will use the crane simulator starting April 2012.

Source - VSTEP

(www.steelguru.com)

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Tiaro Coal partners with Hancock Prospecting for Queensland coal tenements

Tiaro Coal has entered a partnership with Hancock Prospecting for the company’s EPC 1262 exploration permit which has the potential to host a Blair Athol-style deposit.

EPC 1262 is located about 30 kilometres from the Blair Athol Mine, operated by Rio Tinto subsidiary Queensland Coal, to the west of the Bowen Basin.

Exploration at EPC 1262 is aimed at discovering a deposit similar to that present at Blair Athol, with two areas of interest already identified in the 654 square kilometre block. The tenement remains largely unexplored.

Importantly, EPC 1262 is located in close proximity to infrastructure, in particular rail.

Under the terms of the agreement, Hancock Prospecting subsidiary Queensland Coal Investments can earn up to a 51% interest in the permit by sole funding up to AUD 3 million of exploration expenditure.

The first 25% interest is earnable through the staged development and expenditure of AUD 1.5 million while the remaining 26% can be earned through a further AUD 1.5 million expenditure.

Tiaro holds a 50% interest in the EPC 1262 tenement, with the remaining 50% held by Bundaberg Coal.

Source - www.proactiveinvestors.com.au

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Coal extraction in Bangladesh from proven reserve unlikely within 2 yrs

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)

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Heron Resources stars drilling at Shay Gap project

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)

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Adaro Energy sees rising coal production

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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Indian white coal gains popularity in Europe

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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Chinese coal prices up by 2pct

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

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Zimbabwe Hwange Colliery plans to ship coal through Maputo

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)

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Why Baltic index edging higher

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)

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S Korea WP seeks 260000 tonnes coal for Nov to Dec

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)

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

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.

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

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)

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Afferro Mining identifies significant iron ore target at Ntem in Cameroon

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

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."

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

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.”

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China Guangxi province ranks second for coal imports

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

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Jameson Resources eyes return to Canadian coal space with project acquisitions

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.

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Coal shortage hits power generation at NTPC Ramagundam unit

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)

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Queensland Galilee Basin could generate 6000 jobs

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)

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Zimbabwe deadline for foreign firms looms

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)

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