>> Indian state-run coal mining major—Coal India Limited—is considering diversifying into mining of metals, leveraging its core expertise, to fend off the impeding threats to the coal industry from the renewable sources of energy generation. The metals for mining under the consideration are: iron ore, bauxite, copper and nickel. In the event of the consideration materializing, the Indian mining company will find itself among the global biggies, like Rio Tinto and BHP Billiton.
>>Coal exports from Australia is expected to be impacted in the next week as activists in Australia have threatened to protest against the support by the Australian government to the Adani Carmichael coal mine, owned by the India-based Adani Group. The Australian government has allowed coal mined in the Adani-owned mine to be exported from the Abbot Point or Darlymple Bay coal terminals. The protesters have threatened to block the access road to the Abbot Point Coal Terminal during the 16-23 Sep’17 that will restrict coal movements from mines to the terminals.
>>In a sudden development, Coking Coal futures at the Dalian Commodity Exchange of China have plunged by almost 7.4% today over yesterday to Yuan 1,312 per MT, the biggest drop since 2013. Although there is no concrete ground for the drop, market participants speculate that it is due to the initiatives of the Chinese government to curb pollution levels by lowering steel production in that country.
Leave a Reply