Chinese firms scouting for coal assets but in no hurry to buy

As part of new cleaner-energy policies, China will push the use of better-quality coal, such as Australian coal. Photo: Reuters

Chinese companies are on the hunt to buy overseas coal mines as Beijing’s switch to cleaner fuels stokes demand for higher-quality coal produced in countries such as Australia, according to people familiar with the firms’ strategies.

Tuesday, 3 December, 2013, 5:46am

China well-supplied with coal for winter, says industry group

China has ample domestic supplies of coal. Photo: Reuters

China’s coal market will remain amply supplied into the fourth quarter despite peak winter consumption, and the fundamentals are expected to remain much the same next year, local media reported on Tuesday, citing the China Coal Transportation Association.

25 Oct 2013 - 4:31pm

Coal-rich India's restrictive laws force it to become world's No 3 importer

India has the world's fourth-largest reserves of coal but imported a record 138 million tonnes of it in the last fiscal year. Photo: Reuters

Tata Power’s 1,050 megawatt power station in the state of Jharkhand is a textbook case of the absurd results that India’s 1970s-era coal supply laws can produce and why power utilities are lobbying the government to change them.

14 Oct 2013 - 12:15pm

'Golden age' of coal draws to a close

Coal-fired power is losing popularity. Photo: Bloomberg

The mainland's coal-fired electricity market will suffer a "structural oversupply", as cheap but dirty-burning energy sources are increasingly marginalised, says a senior industry official.

18 Apr 2013 - 5:33am

China Shenhua Energy asks its coal mining units to cut production costs

China Shenhua Energy has adopted a series of measures to reduce costs amid weak demand and rising cost pressure. Photo: Reuters

China Shenhua Energy has asked its coal mining units to cut their production costs for each tonne of coal by 5 per cent, in the face of tough market conditions.

The listed unit of the nation's largest coal producer, Shenhua Group, has adopted a series of measures to reduce costs amid weak demand, said vice-president Zhai Guiwu.

17 Apr 2013 - 1:45am

Kyrgyzstan sets sights on Xinjiang coal market

Kyrgyzstan sets sights on Xinjiang coal market. Photo: AP

Kyrgyzstan is aiming to become a major coking coal supplier to the Xinjiang Uygur autonomous region. But the goal will only be realised if a railway is built to link China to the landlocked and mountainous nation in Central Asia to allow low-cost transport of bulk commodities.

1 Apr 2013 - 4:04am

Carbon monoxide poisoning kills 10 in Beijing

A worker moves coal briquettes onto a pedicab at a coal distribution business in Huaibei, Anhui province on January 30, 2013. Photo: AFP

At least 10 people died in Beijing this week from suspected carbon monoxide poisoning, state media reported on Wednesday.

7 Feb 2013 - 1:40am

China burning as much coal as rest of world combined

Figures released by the US government show how quickly China's coal consumption rates have risen over the past decade.

30 Jan 2013 - 3:32pm 1 comment

Briefs, January 22, 2013

Fashion retailer I.T

Mobile phone subscribers on the mainland reached 1.11 billion by the end of last year, according to data released by the country's three giant telecommunications operators. China is the world's largest mobile phone market by subscribers, with a user pool of one sixth the global population.

22 Jan 2013 - 4:57am

Rio chief's exit a non-issue to clients

Former Rio Tinto chief executive Tom Albanese

Nanjing Iron & Steel, Baoshan Iron & Steel and other mills in China, the world's biggest buyer of iron ore, expect little change in the market after chief executive Tom Albanese leaves Rio Tinto.

19 Jan 2013 - 4:04am

Business Digest, January 10, 2013

Clean-air rules affect all coal power plants

Morgan Stanley, the sixth-largest US bank by assets, plans to eliminate about 1,600 jobs from its investment bank and support staff in coming weeks, a person familiar with the matter said. About half the reductions will be in the US and the rest will affect international employees, the person said. All levels of employees will be affected.

10 Jan 2013 - 4:21am

Pricing move puts spark into power shares

Power prices will track coal costs more closely. Photo: Reuters

Shares in mainland power and coal producers gained after Beijing's announcement of a new power and coal price linkage mechanism that frees coal prices from state intervention and lets power prices track coal price movements more closely.

8 May 2015 - 9:46am

Coal use set to surpass oil in a decade: IEA

Local residents load sacks of coal at a Beijing yard. Chinese coal consumption is forecast to account for more than half of global demand by 2014, with the country also displacing the United States as the biggest coal polluter on a per-capita basis, according to a new report from the International Energy Agency. Photo: EPA

Coal is set to surpass oil as the world’s top fuel within a decade, driven by growth in emerging market giants China and India, with even Europe finding it hard to cut use despite pollution concerns, according to a new report.

19 Dec 2012 - 12:39pm

Beijing steps back from coal pricing

The NDRC will not intervene in talks on the price of coal for power stations. Photo: Reuters

Beijing plans to stop its annual meddling in the pricing of power-station coal for the first time since 2008 following a 25 per cent drop in the fuel's price in the past year.

8 May 2015 - 9:48am

The voodoo maths of nuclear energy opponents

More people die from coal pollution each day than have been killed by 50 years of nuclear power operations - and that's just from lung disease.

After the loss of 10 million American lives in the Three Mile Island calamity in 1979, the death of two billion in the Chernobyl holocaust in 1986, and now the abandonment of all of northern Japan following the death of millions in last year's Fukushima nuclear catastrophe, it is hardly surprising that the world's biggest users of nuclear power are shutting their plants down.

24 Nov 2012 - 3:03am 1 comment