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Coal, Discussion
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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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



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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: Jul 27 2019, 02:14 PM
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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



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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
 
mullokintyre
post Posted: Jul 24 2019, 06:22 PM
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Despite continued reports of its iminent demise, Coal just will not die.
From Rueters

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SANHE, China (Reuters) - China Energy Group, the country’s biggest power generator, will add more than 6 gigawatts (GW) of new ultra-low emission coal-fired capacity this year as it bids to meet growing electricity demand, a senior official with the firm said on Thursday.

The company also expected to build another 5 GW of low-emission capacity next year, Xiao Jianying, the head of the state-run firm’s coal-fired power department, told Reuters.

“China still has quite a big demand for electricity. The government now supports regions with poor wind and solar resources to use coal-fired power ... it’s a more practical measure, as gas is still too expensive,” said Xiao.

China Energy operated coal-fired plants with a total capacity of 175 GW at the end of 2018, 77.4% of its total capacity and about 10% of the entire country’s capacity.

Xiao said the company would gradually shut down small and polluting coal-fired power units and replace them with efficient ones, noting that total capacity would continue to increase but at a slower rate of growth.

The firm is also planning to launch another carbon capture and storage (CCS) project in northwest China next year as part of its efforts to reduce the environmental impact of using coal, company officials said. It already runs a CCS plant at its coal-to-oil facility in Erdos in Inner Mongolia.

China Energy also has ambitions to export more of its low emission coal-fired power technology. Officials said the company planned more investments in Indonesia, and was also studying proposals to build a coal-fired plant in Greece.

China uses ultra-low emissions technology at about 80% of its total coal-fired capacity. The technology cuts smog particles down to a minimum, but does little to curb climate-warming carbon emissions.



As is to be expected, China will pretend to follow the Co2 reduction meme, until it starts to impact on its economy.

Where oh where is Bob brown and his cavalcade. Why are they not marching on the Chinese embassy!.

mick the cynic.



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blacksheep
post Posted: Jul 24 2019, 10:53 AM
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Adani's Carmichael coal mine surviving on lifeline from Indian parent company

Professor Sandra van der Laan casts her eyes over the complex corporate structure for Adani's Australian operations.
QUOTE
Key points:
The company responsible for the Carmichael coal mine has current liabilities of more than $1.8b versus current assets of less than $30m
The auditors signed off on the company being a "going concern" because of a 12-month guarantee from the Indian parent firm
Accounting expert Sandra van der Laan says "effectively on paper they are insolvent. I wouldn't be trading with them"

"It looks to me like a corporate collapse waiting to happen," she says.

"It has all the hallmarks of the big corporate failures we've seen over the last 20 to 30 years."

Professor van der Laan, a forensic accounting specialist who heads the discipline of finance at the University of Sydney, has a reputation for picking "corporate collapses waiting to happen"

A decade ago, she and fellow academic Sue Newberry warned that ABC Learning — then Australia's biggest private childcare provider and the largest publicly listed childcare company in the world — was a house of cards.

It subsequently failed in spectacular fashion, causing a crisis in the industry.

She examines a diagram of Adani's Australian structure: a labyrinth of trusts interposed between private companies and Indian stock market-listed companies with ties to, and in some cases ownership in, tax havens stretching from Singapore to Mauritius, on to the Cayman Islands and the British Virgin Islands.
.


https://www.abc.net.au/news/2019-07-24/adan...parent/11338926



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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: Jul 13 2019, 11:47 AM
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Australian thermal coal leaves investors cold
Bloomberg | July 12, 2019 | 12:37 pm
extract
QUOTE
Back in 2016, coal was still the lowest-cost way of delivering new generation in most major markets. The slumping price of wind and solar generation since then has changed the game. Thermal coal will fall to 11% of U.S. generation by 2030 from the mid-20s at present, S&P Global Ratings wrote in a report Wednesday; outside of Spain and Germany, most European coal-fired plants will be retired by 2025.

read more - https://www.mining.com/web/australian-therm...investors-cold/



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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
 


triage
post Posted: May 16 2019, 08:26 AM
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Another big US thermal coal producer goes broke, forced out by cheaper, cleaner alternatives.

https://arstechnica.com/information-technol...for-bankruptcy/

The difference is that in the US gas is accepted as a cheaper, cleaner alternative to thermal coal whereas in Australia it is not.

(also the url misspeaks by saying the company is the third largest US coal producer when in the article the company is identified as being the fourth biggest).



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"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog
 
blacksheep
post Posted: Apr 7 2019, 11:34 AM
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QUOTE
Thermal coal and LNG prices crash
One place where the bears are firmly in control appears to be the Asian energy market where they have taken a big bite out Australian thermal coal and LNG producers.

Thermal coal prices out of Newcastle crashed 20 per cent last week — the most precipitous dive since the global economy became completely unglued during the global financial crisis a decade ago.

Newcastle coal, which is a favoured fuel of Asia's big power generators — not only in China, but Japan (the biggest market) and Korea — has now dropped 40 per cent from its peak of almost $US120 a tonne in August last year.

While the Chinese customs' nebulous go-slow/ rigorous environmental inspection/ import ban has had an impact, it is a far broader problem for Australian exporters.

On Refinitiv Eikon shipping data, Chinese imports of Australian thermal coal have fallen from 2 million tonnes in January, to about 1.3 million tonnes in March.

The recently concluded longer term Japanese thermal coal contracts — as opposed to the spot price —also showed a marked softening, with the March 2020 contract price being cut by 14 per cent.

It's not just a switch to less carbon intensive fuel.

Thermal coal's closest competitor into Asian power generation, LNG, has seen its spot price crash 60 per cent in little more than 6 months.

While PMIs are telling one story in Asia, perhaps energy demand has an entirely different and worrying narrative.

https://www.abc.net.au/news/2019-04-07/gree...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: Mar 21 2019, 12:40 PM
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In Reply To: Mags's post @ Mar 21 2019, 11:17 AM

Interesting recent articles about reviving old mines

Terracom Limited - ASX TER - formerly Guildford Coal Limited
Rich listers get boost from former Rio Tinto coal mine bought for $1
A coal mine Rio Tinto sold for $1 is paying big dividends for some of Australia’s largest investors, including rich listers John Singleton, Alex Waislitz and former Leighton Holdings chief Wal King.

The trio are shareholders in junior coal miner TerraCom, which bought Rio's Blair Athol mine in Queensland for $1 in 2016, four years after it had closed. The company has been bringing the Bowen Basin mine back to life and Mr Singleton's Bonython Coal last year underwrote TerraCom's $15 million capital raising.
read more - https://www.smh.com.au/business/the-economy...320-p515tp.html

In the UK
Coal mining comes back to the UK with $218 million project
QUOTE
A new £165 million (about $218 million) coal mine, Woodhouse Colliery, has been unanimously approved by councillors in the county of Cumbria, in northwest England. The mine promises hundreds of jobs, but also protests by environmental activists.

West Cumbria Mining plans to open the country’s first new deep coal mine next to the site of the former Hag colliery in Whitehaven, which closed down three decades ago.

http://www.mining.com/coal-mining-comes-ba...k-218m-project/



--------------------
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
 
nipper
post Posted: Mar 21 2019, 11:25 AM
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In Reply To: Mags's post @ Mar 21 2019, 11:17 AM

QUOTE
retail investors been sold a lie?
...well maybe, but according to some, not buying such stocks is going to save the planet , and feel less dirty. So the "first worlders" that are feeling uncomfortable, guilty about their lifestyles seemed to have made a collective decision not to hold and think others shouldn't, as well.

Takes a lot to turn the Queen Mary around.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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