In 2020 the debt of Albert Avdolyan’s A-Property skyrocketed from 13.5 billion RUR (178.4 mio USD) to 152.2 billion RUR (2.1 billion USD). The increase in accounts payable of the company resulted from the purchases of assets for 142 billion RUR (1.8 billion USD) in total. In April 2020, A-Property acquired 51% in Elga from […]
North China’s Shanxi province, now the country’s top coal mining region, has pledged to control development of the province’s coal resources and stabilize annual raw coal production at around 1 billion tonnes during the 14th Five-Year Plan over 2021-2025. Over the previous five years, Shanxi’s raw coal production drew steadily from 816 million tonnes in […]
Last week coal indices in the European market went on declining below 68 USD/t amid record-high EU carbon prices and increased wind output in some European countries. On April 06, 2021 prices of EU emission quotas exceeded 44 EUR/t. This is the highest value since 2005. According to the US investment bank Goldman Sachs, the […]
After enduring a tumble of Yuan 800/tonne ($122.1/t) in their domestic coke prices over the past five weeks, Chinese coke makers are now pushing back against the steel mills. The independent merchant coke producers are started to press for a raise of at least Yuan 100/t, citing the high margins the steelmakers are enjoying, against […]
Under the new amendments to the Russian state program on development of energy industry, in 2021 coal production in Russia is expected to reach 390.7 mio t (-65 mio t or -14% to the previous estimates). In 2022, coal production will decline to 389.5 mio t and will remain at this level in 2023. In […]
Last week thermal coal indices in Europe dropped to 69-70 USD/t due to warm weather, weighing on electricity demand in EU. Moreover, growing carbon prices put additional pressure on coal quotes. On March 31, 2021, the price of carbon quotas, traded on Emissions Trading System, reached 42.5 EUR/t (+0.7 EUR/t to March 24, 2021). Nevertheless, […]
China will accelerate the utilization of renewable energy during the 14th Five-Year plan over 2021-2025, and by 2025 over half of the country’s installed electricity generating capacity will be fuelled by renewable energy, officials from China’s National Energy Administration (NEA) announced at a press conference in Beijing on March 30. By 2025, renewable energy will […]
Indonesia is the world’s largest thermal coal exporter, exporting around 400 million tonnes in 2020. This represents a fall from the record level of 2019, reflecting difficult conditions since the outbreak of the COVID-19 pandemic. While Indonesia’s coal reserves are substantial, many are subject to high costs, which left them uneconomic during the period of […]
In April 2021, Kolmar plans to launch Denisovskaya Eastern coal mine in Yakutia with an annual extraction of 4 mio t. The facility is expected to reach its design capacity until 2023. Denisovskaya Eastern mine will be a part of Denisovskiy mining and processing enterprise and will produce 8-10 thousand t of coal daily. Kolmar […]