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Coal, Discussion
blacksheep
post Posted: Nov 28 2019, 10:14 AM
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Vale to shutter Mozambique coal operations for 3 months
Bloomberg News | November 27, 2019

QUOTE
Vale SA, the Brazilian mining giant, plans to place its Mozambican coal operations on maintenance for three months, essentially closing the tap on about one-third of the southeast African country’s export earnings.

The move could have severe implications for the country’s balance of payments and currency, as coal is by far its biggest source of export earnings. Mozambique exported $1.7 billion worth of the fuel used in power stations and steel plants last year, with Vale operations in the center of the country accounting for almost all of that.

The company completed a review of its Mozambican coal mines and decided to shift the focus to producing more metallurgical coal — used to produce steel — and less of the lower-value product that power stations burn. Under the new plan, the assets will produce at a rate of 15 million tons per year by the end of 2020, up from less than 12 million tons last year, but still well short of Vale’s target to export 22 million tons from the mines in central Mozambique.

Vale will this quarter write down the assets by $1.6 billion, it said in a statement.

(By Matthew Hill)

https://www.mining.com/web/vale-to-shutter-...s-for-3-months/





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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 23 2019, 07:49 PM
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Interesting read
Coal Knew, Too
QUOTE
A newly unearthed journal from 1966 shows the coal industry, like the oil industry, was long aware of the threat of climate change.

“Exxon knew.” Thanks to the work of activists and journalists, those two words have rocked the politics of climate change in recent years, as investigations revealed the extent to which giants like Exxon Mobil and Shell were aware of the danger of rising greenhouse gas emissions even as they undermined the work of scientists.

But the coal industry knew, too — as early as 1966, a newly unearthed journal shows.


QUOTE
As Cherry did some of his own digging, he soon realized his discovery could be the first evidence that the coal industry was aware of the impending climate crisis more than half a century ago — a finding that could open mining companies to the type of litigation that the oil industry is now facing.


https://www.huffingtonpost.com.au/entry/coa...984f?ri18n=true



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: tombeet  
 
blacksheep
post Posted: Nov 20 2019, 09:22 AM
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Posts: 6,791
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Coal exporter NCIG, heading for record figures, works to keep Novocastrians onside amid criticism
ABC Newcastle By Liz Farquhar
Posted about 3 hours ago
QUOTE
As protests in Australia over coal and climate change grow louder and more aggressive, a coal loading company in Newcastle is working on re-engaging with its community.

Key points:
Major exporter Newcastle Coal Infrastructure Group expects to move a record 57 million tonnes of coal this year
The company has restarted its community engagement group
The Grattan Institute says it is increasingly difficult for coal to stay onside with public opinion as climate concerns increase


Newcastle Coal Infrastructure Group (NCIG) has just confirmed it is expecting a record year of coal tonnage through its terminal at the Port of Newcastle as new and established New South Wales mines ramp up production.

NCIG began operating in 2010, mostly sending coal to customers in Japan, Korea, and China.

CEO Aaron Johansen said this year will be bigger than ever.

"We're expecting up to 57 million tonnes through the NCIG terminal this year," he said.

read more - https://www.abc.net.au/news/2019-11-20/coal...ection=business



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 18 2019, 09:07 PM
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Posts: 6,791
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Canavan revives carbon capture in new effort to underpin coal generators
Michael Mazengarb1
QUOTE
As reported by the Australian Financial Review, representatives from oil and gas company Santos, and coal miner Glencore have met with Prime Minister Scott Morrison and advocated for carbon capture and storage projects to receive financial support under the $2 billion Climate Solutions Fund.

The push to invest in carbon capture and storage projects appears to have the backing of resources minister Matt Canavan, who confirmed that financial support for such projects was under active consideration by the Morrison government.

Two of Morrison’s closest advisors are the former CEO and deputy CEO of the Mineral Council of Australia, the principal coal lobby in Australia which also supports CCS, even though projects to date have been hugely expensive and not very effective.

“We are looking into this. We have put a lot into CCS and we are looking at the next steps,” Canavan told the Financial Review.

Carbon capture and storage technologies have already received substantial financial support from the Australian government – around $500 million – but almost nothing has been delivered in terms of actual emissions reduction.

Companies like Glencore and Santos see carbon capture as a technology that would enable coal, oil and gas industries to continue while supporting efforts to limit global warming.

read more - https://reneweconomy.com.au/canavan-revives...nerators-54900/

Michael Wests Top 40 Tax Dodgers shows Glencore paid "zero" tax. https://www.michaelwest.com.au/tax-dodgers/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 30 2019, 01:39 PM
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Posts: 6,791
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Top US private coal miner Murray Energy files for bankruptcy
Cecilia Jamasmie | October 29, 2019 |
QUOTE
Murray Energy, the US largest privately owned coal producer led by outspoken Donald Trump ally Robert Murray, has filed for chapter 11 protection, as the fossil fuel’s role in the country’s energy mix continues to diminish.

The Ohio-based miner, the eighth coal company to go under over the past year, said it had reached a restructuring agreement with lenders to restructure more than $2.7 billion of debt.

read more - https://www.mining.com/us-top-private-coal-...for-bankruptcy/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 28 2019, 03:43 PM
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Posts: 6,791
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China coking coal posts steepest weekly fall in nearly 11 months on demand worries
Enrico Dela Cruz
QUOTE
MANILA (Reuters) - Chinese coking coal futures slipped on Friday and logged their biggest weekly loss since November 2018, as slowing economic growth and a bruising U.S.-China trade war clouded demand outlook for the steelmaking raw material.


read more - https://www.reuters.com/article/us-asia-iro...s-idUSKBN1WC0VU



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 

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blacksheep
post Posted: Aug 28 2019, 12:32 PM
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Are coal exports to India an opportunity or lost cause?
Reuters | August 27, 201
extract
QUOTE
For Australia, which is the world’s second-largest exporter of thermal coal used in power plants behind Indonesia, the report said the opportunity to boost exports to India comes from replacing cargoes from Indonesia and South Africa.

This may be the case if Indonesia and South Africa export less in order to reserve their output for domestic consumption.

Currently Australia supplies about 8.3% of India’s thermal coal imports, meaning that if volumes do decline from Indonesia and South Africa, which jointly account for about 83% of India’s imports, there will be a gap for Australia.

Much will also depend on whether Indian buyers wish to use higher energy content coal, and whether the price is low enough to incentivise imports.

On coking coal used in steel-making, the outlook for Australian exports to India is brighter, given the paucity of India’s domestic reserves of this grade, and the lack of alternatives to buying from Australia.

While India’s coking coal demand looks set to remain robust, the problem is the high level of uncertainty over imports of thermal coal.

For Australia to boost thermal coal exports to India, it would take a failure of Coal India to boost domestic output, lower than expected installations of renewable energies and a drop in shipments from Indonesia and South Africa.

(By Clyde Russell; Editing by Richard Pullin)


read more - https://www.mining.com/web/are-coal-exports...-cause-russell/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 17 2019, 04:27 PM
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A burning question for coal’s brightest star
Bloomberg News | August 16, 2019 |
(Bloomberg Opinion)

QUOTE
If India is such a bright hope for global coal demand, why can’t investors see it?


QUOTE
In truth, there’s not enough investment in either form of generation at the moment to make a sure-fire bet. Still, as we’ve argued, the collapse of financing for fossil fuels should give pause to anyone making bullish predictions for the future of carbon-intensive electricity, including the governments that are increasingly its main backers. Coal-fired power has long failed in terms of human health and climate impacts, but its raw economics are now collapsing, too. Even the might of the state can’t keep flogging this dead horse much longer.

(By David Fickling)


read more - https://www.mining.com/web/a-burning-questi...brightest-star/
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 8 2019, 10:06 AM
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Posts: 6,791
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Big Money Starts to Dump Stocks That Pose Climate Risks
After years of meetings and shareholder resolutions, some funds are starting to simply divest from coal and oil stocks.

By Kelly Gilblom
August 7, 2019, 2:01 PM

QUOTE
Demand for thermal coal, the kind used to generate electricity, is declining in much of the world as governments seek to cut carbon dioxide emissions. Some asset managers are deciding it’s risky—for their clients and the planet—to keep shoveling capital into companies with environmentally unsustainable business strategies. This year almost every major public oil company faced at least one shareholder resolution about climate change. Those proposals won record support. (Michael R. Bloomberg, founder and majority owner of Bloomberg LP, in June launched an effort to phase out every U.S. coal-fired power plant by 2030.)

https://www.bloomberg.com/news/articles/201...e-climate-risks



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 27 2019, 02:14 PM
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Posts: 6,791
Thanks: 2304


Major insurer Suncorp vows to stop covering thermal coal projects

QUOTE
The latest announcement means there are now no Australian insurers willing to underwrite new thermal coal projects, experts and advocates say.

Insurance giant Suncorp has announced it will have no dealings with the thermal coal sector by 2025, leaving Australia with no major insurers willing to cover new thermal coal mines and power stations into the future, according to experts.

The company said on Friday that they do not "directly invest in, finance or underwrite new thermal coal mining extraction projects or new thermal coal electricity generation" and they will "phase out these exposers by 2025."

Suncorp added that its insurance and investment portfolio exposure to fossil fuels was already at just 0.5 per cent, but that it was working toward a full exit.

https://www.sbs.com.au/news/major-insurer-s...l-coal-projects



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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