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Govt may consider auctioning 8 coal blocks

The government may consider auctioning eight coal mines which have reserves of 1,773 million tonnes (MT) and are located in Chhattisgarh, West Bengal, Jharkhand and Maharashtra. The development comes at a time when Supreme Court had held that all coal blocks since 1993 have been allocated illega ...

Indian thermal coal: Delivered 5,500 NAR prices range-bound on strong freight rates

Strong freight rates kept delivered prices for 5,500 NAR range-bound, even as tight supply of South African was met with limited demand, sources said Thursday. Sources also said there were a few offers for Australian coal but not many deals were getting concluded. “Australian coal is getting com ...

India Supreme Court verdict likely to impact global Coal prices

The possible surge in import volume could cost India $3billion. The international traders have temporarily stopped talks on supply contracts with India as they see it is better to take decisions after the verdict. Coal industry will be waiting for India Supreme Court(SC) verdict regarding the ca ...

Indian thermal coal: Limited availability of S African 5,500 NAR

Reports of limited availability of South African 5,500 kcal/kg NAR continued to filter into the Indian market amid lukewarm interest, with some cement companies covered until the end of the year, sources said Wednesday. Platts assessed the 30-60 day prices for CFR India West at $77.20/mt, up 40 ...

Indonesia may revoke contracts of 17 coal miners, including Bumi unit

Indonesia may revoke the contracts of 17 coal miners that owe royalties to the government, including PT Arutmin Indonesia, a unit of PT Bumi Resources Tbk, the director general for coal and minerals said on Wednesday. The potential termination of Arutmin’s contract is likely to hurt Bumi, which ...

China to Fine Coal Miners Exceeding Output Limits as Prices Drop

China will fine coal miners as much as 2 million yuan ($325,200) if they exceed national production limits after prices fell to the lowest in almost seven years. Miners in the world’s largest coal consumer that exceed their annual registered output quotas will be fined 500,000 yuan to 2 million ...

Goa govt relaxes norms for iron ore auction

The government of Goa has lowered the earnest money deposit (EMD) for iron ore auction and has reduced the lot size by 90 per cent to accommodate more players and intensify competition among participants. In its modified auction policy, the mineral rich tiny state on the West coast of India has ...

Modi May Lose $3 Billion Plant to Iran as Coal Runs Short

Domestic coal shortages are prompting India’s National Aluminium Co. (NACL) to plan construction of a $3 billion smelter complex abroad, possibly in Iran, underscoring the task Prime Minister Narendra Modi faces to boost energy output. Indonesia, Vietnam, Malaysia, Oman and United Arab Emirates ...

Indonesian thermal coal prices largely stable due to holidays

Indonesian thermal coal prices remained largely stable Tuesday as many market participants in Indonesia were away from their desks due to Ramadan holidays set to last until August 4, sources said Tuesday. Platts assessed the price of FOB Kalimantan 4,200 kcal/kg GAR coal at $36/mt and FOB Kalima ...

Asia-Pacific Handysize freight rates stay steady as Far East market remain busy

Asia-Pacific Handysize freight rates stayed steady Tuesday as market participants were slowly returning from the Ramadan holidays, and shipping sources said a stable Supramax and a busy Far East market could be lending support. “The Southeast Asia market is struggling while the Australian coast ...