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S.Korea’s KOSEP buys 60,000 T of coal for March

Korea South-East Power Co Ltd (KOSEP) bought 60,000 tonnes of anthracite coal via a reissued tender that closed on Dec. 11, a source from the utility said. The shipment is scheduled to arrive at Donghae port early March, 2015. The source declined to disclose supplier information, but other detai ...

After coal, India now urgently needs to sort out its iron ore sector

India’s steel mills are scrambling to source one crucial commodity—iron ore. Even as the country’s coal sector inches towards normalcy, with the central government adopting a new policy of auctioning coal blocks, India’s iron ore sector is still in the doldrums. From one of the world’s biggest e ...

Constitutional Court in Indonesia Upholds Ore Shipment Ban

Indonesia’s Constitutional Court upheld today the country’s ban on exports of raw mineral ores imposed in January, rejecting a challenge from mining companies. The court ruled the prohibition was acceptable to ensure ore supplies to domestic smelters. The Indonesian Association of Mineral Entrep ...

Iron ore back above $70, but outlook shaky

Iron ore recovered to trade above $70 a tonne after a drop to 5-1/2-year lows encouraged some buyers of spot cargoes in China, although the longer-term outlook for the commodity remains hazy amid a supply glut and weak Chinese property sector. “It is difficult to identify any factors that are su ...

Indian Iron Ore Exports: Goin’ Goan, Gone?

Non-renewal of mining leases has put a strain on India’s iron ore users as the companies are starving for raw material. A report in The Economic Times said the shortage had left companies such as Essar Steel and Jindal Steel & Power struggling as their capacity utilization has shrunk to les ...

India’s NTPC on the hunt for overseas coal

India’s largest power producer NTPC Limited will sign long-term coal supply agreements for at least 17-million tonnes a year for next five to six years. The government-owned- and managed power producer was already in talks with several coal asset owners across the world seeking thermal coal supp ...

China Said to Order Companies to Check Risks in Commodity Trades

China asked state-owned companies to investigate risks associated with commodity trading, said people familiar with the matter, as the government seeks to avoid losses amid a price slump for raw materials. The State-owned Assets Supervision and Administration Commission ordered companies under i ...

Indian govt trade union arm puts up roadblock to coal sector reform

The Indian government’s frantic efforts to push through legislative reforms in the coal sector have hit a roadblock from the ruling party’s own trade union wing. Trade union Bharatiya Mazdoor Sangh (BMS), the labour organisation allied to the ruling Bharatiya Janata Party (BJP), has raised a red ...

African Iron Ore Producer Facing ‘End of the Road’

African Minerals Ltd. (AMI), the Sierra Leone iron-ore producer once worth more than 2 billion pounds ($3 billion), has run out of cash amid an industry shake-out, prompting analysts to conclude the company may not survive. The stock, down 95 percent this year, is suspended for a second day in L ...

Tough talks expected at coal contract negotiations between Chinese producers, utilities

Major Chinese miners might look to boost thermal coal prices ahead of the annual contract negotiations for 2015 with utilities next week, but utilities are expected to bargain hard as demand remains muted amid high stockpiles, industry sources said this week. Leading coal producers including She ...