>>Glencore is planning to sale off its Rolleston coal mine at Queensland in Australia within the first half of 2018, according to the inputs received. According to the mining major, many prospective buyers have evinced interest in purchasing the mine, but Glencore is yet to enter into a definitive agreement with any one of them.
The mine produces coal with low ash content, due to which no coal washing is required. In 2018, the mine is expected to produce around 17 MnT of saleable coal. Glencore sales the coal produced in the mine both in export and domestic market of Australia.
>> There is likelihood for South African coal prices to be impacted. The National Union of Mine Workers of that country has threatened to go on strike indefinitely with effect from 19 Nov’17 if their wage demand is not met by their employers.
The strike, if takes effect, will not have a direct impact on the coal prices immediately as there are high levels of coal stocks at the Richard Bay Coal Terminal.
>>Australian coal rail operator—Aurizon Holdings—is considering purchasing the Wiggins Island Coal Export Terminal. At the same time, the management of the terminal is also looking for a buyer due to dire need for funds to repay its USD 3 million debt.
The purchase will bring in change in business strategy for the freight operator, which runs nearly 2,700 km of rail line, transporting million tons of coal every year.
>> Coal India Limited (CIL) achieved 7% average rise in loading of coal rakes per day at 208.8 units during 2QFY18 against 195.2 units in 2QFY17. The rise was attained as a result of constant co-ordination with railways, according to the state-run coal miner.
During the Jul-Sep’17 period, the overall coal off-take was at 131.58 MnT, up by 13.6% over that in the same quarter of the last fiscal at 115.87 MnT.
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