The Adaro Blog
JBIC muddies comments from chief on ending coal finance
May 6, 2020, 12:40 pm
TOKYO (Reuters) - Japan’s government-owned export credit agency said it has not changed its policy on financing coal power plants, muddying a message from the bank’s head that environmental groups had hailed as a major shift on the polluting fuel.
The Japan Bank for International...
Coal mining giant Bumi records 97 percent plunge in profit
April 3, 2020, 7:22 pm
Indonesia’s largest thermal coal miner, PT Bumi Resources, booked a US$6.84 million profit in 2019, down 97 percent from $220.4 million in the previous year partly due to falling coal prices and higher fuel-related costs.
The publicly listed company’s revenue only increased 0.06...
Indonesia’s Bayan halts coal output at subsidiaries
March 30, 2020, 8:38 pm
Indonesian coal producer Bayan Resources is to halt production at two of its mining subsidiaries until 30 April as a precautionary measure amid the global coronavirus pandemic.
Its Tabang and Fajar Sakti Prima subsidiaries operate mines in Indonesia's east Kalimantan province and produce a...
Anglo American expects South African lockdown to hit iron ore and coal
March 27, 2020, 5:40 pm
LONDON (Reuters) - Anglo American expects output at its Kumba Iron Ore mine in South Africa to fall by up to 3 million tonnes in 2020 because of a 21-day lockdown and coal export production to be up to 2 million tonnes lower, it said on Friday.
The London-listed miner also lowered output of...
China’s cement prices rise as coal demand recovers
March 25, 2020, 5:04 pm
Rising cement prices in several Chinese regions signal that the recovery in the sector is picking up pace, which could boost coal demand with the industry being a large-scale consumer.
An increase in economic activity has also pushed the combined daily coal consumption at key Chinese coastal...
Malaysia coal-fired generation falls on virus shutdowns
March 23, 2020, 5:06 pm
Power demand in Malaysia has fallen sharply over the past week because of businesses closures intended to slow the spread of coronavirus, with coal-fired generation making up most of the reduction.
Coal-fired generation averaged 7.1GW today, down from 11GW a week earlier. Gas-fired generation...
China’s benchmark power coal price drops slightly
March 20, 2020, 5:36 pm
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China’s major ports, stood at 555 yuan (about 79 U.S. dollars) per tonne Wednesday, a drop of three yuan week on week, according to...
U.S. coal exports declined in 2019
March 19, 2020, 6:42 pm
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Information Administration’s Annual Coal Report. The United States exports metallurgical coal and steam coal, and exports of both decreased in 2019. U.S....
Coal beats gold (and other commodities) amid coronavirus gloom
March 18, 2020, 6:40 pm
Amid carnage in the oil markets, and sharp losses for other commodities such as copper, you may be tempted to think gold is the best option for a positive return. But coal beats the metal.
Coal’s image is increasingly that of a pariah fuel, demonised by environmentalists and shunned by...
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