Rostec signed an agreement with A-Property, owned by Albert Avdolyan, on the main terms of the transfer of 5% in the Elga coal project to the state corporation. Rostec already owns 25% in both Port Vera coal terminal and Ogodzhinsky coal deposit. On February 26, 2021, Dmitry Novikov (president of Rosengineering) and Ekaterina Lapshina (asset […]
HBA (Harga Batubara Acuan) is at halt after continuous up for 5 Months. Index has be settled at 84.49 for March 2021, up by 26% on YoY basis & Down by 4% on MoM. The HBA continued to weaken from Mar 2020 to Sep 2020. After falling at Historical Low in Sep to $49.42/MT, the […]
India’s power generation is still heavily reliant on coal, which is expected to be the dominant player for the coming few decades as well. As of 2020, of the nearly 1600 tera watt-hour (TWh) of total power generated in India, 72% (1135 TWh) came from coal fired plants. While the share of coal is expected […]
Coal indices in Europe surged to 66-67 USD/t last week amid a cold snap in a number of European countries, an upturn in TTF gas quotes and a decrease in the EU carbon prices. Low temperatures in some European states boosted coal consumption by local power plants. ARA coal stocks fell to 3.90 mio t […]
On March 02, 2021, during the meeting on the development of Russian coal industry, Vladimir Putin criticized global green energy initiatives, referring to Texas as an illustration of negative consequences of state’s dependance on renewables. An unprecedented winter storm in the southern U.S. state cut off half of its wind power. Under the statement of […]
Yancoal Australia, an overseas subsidiary of China’s state-run Yanzhou Coal Mining, reported the first annual loss in 2020 in four years, due to decline in demand and coal prices, according to its financial report released on February 26. The company posted a loss of A$1.04 ($765 million) in 2020, tumbling 249% compared with a year […]
Inner Mongolia in North China, now the country’s second-largest coal mining region after Shanxi in North China too and with the most competitive power charges, mulls blocking any new industrial projects including steel, coke, ferroalloys, non-ultra-high electrode graphite and aluminium starting 2021, aiming to rein in on the region’s power consumption mainly by such industrial […]
Dmitry Novikov (president of Rosengineering) and Ekaterina Lapshina (asset manager of Albert Avdolyan) pledged their stakes in Ogodzhinsky coal deposit and Port Vera coal terminal to Rostec State Corporation. In January 2021, Rostec State Corporation, Dmitry Novikov and Ekaterina Lapshina gained full control over these assets, which belonged to the heirs of Dmitry Bosov (see […]
Last week, European coal indices edged higher to 65-66 USD/t due to the expected cold March in a number of EU countries and limited coal supplies out of the iced-over Baltic ports. According to the Speedwell Weather portal, daily temperatures in some European countries will be well below average estimates in the first half of […]