B06 Coal Mining

Adani mine approvals closer

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Original article by Mark Ludlow
The Australian Financial Review – Page: 10 : 21-Aug-15

The Queensland Government has given preliminary approval for the expansion of the Abbot Point coal terminal, the export hub for the proposed Carmichael mine. The breakthrough was welcomed by Adani, the Indian energy giant, which also expressed frustration with anti-coal activists. Queensland is backing the $A16.5 billion Galilee Basin development to create thousands of jobs.

CORPORATES
QUEENSLAND. DEPT OF ENVIRONMENT AND HERITAGE PROTECTION, AUSTRALIA. DEPT OF THE ENVIRONMENT, ADANI ABBOT POINT TERMINAL PTY LTD, ADANI MINING PTY LTD, QUEENSLAND. DEPT OF EMPLOYMENT, ECONOMIC DEVELOPMENT AND INNOVATION

‘If those projects don’t go, Qld is finished’

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Original article by Mark Ludlow, Misa Han
The Australian Financial Review – Page: 6 : 20-Aug-15

Townsville mayor Jenny Hill is leading community support for the Adani coal mine, which is bogged down in litigation brought against the $A16.5 billion development by environmental activists. Townsville was hoping to be a hub for fly-in, fly-out workers. "We need the jobs," Hill said as Queensland businesses also threw their weight behind the mine, which will supply coal to India.

CORPORATES
ADANI ENTERPRISES LIMITED, TOWNSVILLE CITY COUNCIL, POLLARD PLANT HIRE, QUEENSLAND. DEPT OF THE PREMIER AND CABINET

Taxpayers funded action to block Adani

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Original article by Mark Ludlow
The Australian Financial Review – Page: 5 : 10-Aug-15

A parliamentary inquiry into the tax deductibility status of environmental groups has found that government funds are often used to finance court actions against mining companies. A recent court case involving the Mackay Conservation Group and Indian energy company Adani has attracted the inquiry’s attention to the issue of transparency at environmental groups. Mackay Conservation Group co-ordinator Ellen Roberts said in early August 2015 that only donations were used to fund the case against Adani.

CORPORATES
FEDERAL COURT OF AUSTRALIA, ADANI MINING PTY LTD, MACKAY CONSERVATION GROUP INCORPORATED, LIBERAL-NATIONAL PARTY OF QUEENSLAND, ENVIRONMENTAL DEFENDER’S OFFICE (NSW) LIMITED, TARKINE NATIONAL COALITION INCORPORATED, AUSTRALIAN LABOR PARTY

Hunt slams lobbyists for Adani hold-up

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Original article by Mark Ludlow
The Australian Financial Review – Page: 3 : 6-Aug-15

Federal Environment Minister Greg Hunt has accused environmental activists of using litigation as often as possible to obstruct the approval process for mining projects. On 5 August 2015, the Federal Court of Australia set aside environmental approval for the Carmichael coal mine project in Queensland, to be developed by Indian company Adani. The litigant, the Mackay Conservation Group, is confident that the mine will not be built, but Hunt has vowed to issue a new approval as quickly as possible.

CORPORATES
FEDERAL COURT OF AUSTRALIA, ADANI MINING PTY LTD, MACKAY CONSERVATION GROUP INCORPORATED, QUEENSLAND. DEPT OF MINES AND ENERGY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE ENVIRONMENT

Sumitomo deal wide of the mark

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Original article by Perry Williams
The Australian Financial Review – Page: 19 : 31-Jul-15

Australian-listed Stanmore Coal has paid just $A1 for the Isaac Plains coal mine in Queensland’s Bowen Basin. Japan-based Sumitomo had paid $A430m for Aquila Resources’ 50 per cent stake in the mine in 2011. The downturn in coal prices prompted joint owners Sumitomo and Vale to mothball the mine in September 2014 and put it on the market. Stanmore aims to resume production at Isaac Plains in the first six months of 2016.

CORPORATES
STANMORE COAL LIMITED – ASX SMR, AQUILA RESOURCES LIMITED, SUMITOMO CORPORATION, VALE SA, SHANGHAI BAOSTEEL GROUP CORPORATION, AURIZON HOLDINGS LIMITED – ASX AZJ

Palmer urges firmer action against China over coal tests

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Original article by Peter Ker
The Australian Financial Review – Page: 13 & 18 : 13-Jul-15

China recently increased stricter standards for coal imports, and is now testing shipments for the presence of trace elements such as fluorine, arsenic and mercury. China has already rejected at least one coal shipment from Australia, and federal MP Clive Palmer says Australia should impose a tariff on iron ore exports to China in response to the new testing regime. Meanwhile, there is speculation that Canada will take the matter to the World Trade Organization.

CORPORATES
WORLD TRADE ORGANIZATION, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, CHINA. MINISTRY OF COMMERCE, CANADA. DEPT OF FOREIGN AFFAIRS, TRADE AND DEVELOPMENT, ANGLO AMERICAN COAL, WARATAH COAL INCORPORATED, CITIGROUP INCORPORATED

Coal M&A on hold as price falls predicted

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 20 : 17-Jun-15

Anglo American, Vale and Peabody Energy are among the companies that are believed to be keen to sell some of their coal mines in Australia. Coal Ventures director Bede Boyle suggests that New Hope Coal, Glencore and private equity firms are the most likely contenders to buy coal assets. However, Marian Hookham of IHS Coal says many potential buyers appear to be biding their time on expectations of further weakness in the price of coal.

CORPORATES
ANGLO AMERICAN PLC, PEABODY ENERGY CORPORATION, VALE SA, NEW HOPE CORPORATION LIMITED – ASX NHC, GLENCORE PLC, INTERNATIONAL COAL VENTURES LIMITED, IHS COAL, BHP BILLITON LIMITED – ASX BHP, MITSUBISHI CORPORATION, ITOCHU CORPORATION, SUMISHO COAL AUSTRALIA PTY LTD

Anglo American rallies to the defence of coal

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Original article by Peter Ker
The Australian Financial Review – Page: 27 : 11-Jun-15

Anglo American spokesman James Wyatt-Tilby notes that coal is used to generate about 41 per cent of global electricity supply at present. He expects coal to remain a primary source of energy supply for many years, and argues that a global push for investment funds to eliminate their exposure to coal producers will have no impact on demand. However, he says it will result in less funding for initiatives aimed at reducing carbon emissions.

CORPORATES
ANGLO AMERICAN PLC, AXA SA, OXFORD UNIVERSITY, UNISUPER LIMITED, AMP CAPITAL INVESTORS LIMITED, AMP LIMITED – ASX AMP, HUNTER HALL INTERNATIONAL LIMITED – ASX HHL, GROUP OF SEVEN (G-7), GLENCORE PLC, PEABODY ENERGY CORPORATION

Rio chief says coal price slump to last

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 : 11-May-15

The price of thermal coal has fallen to around $US63 per tonne, compared with $US150 in 2011. Rio Tinto executive Jean-Sebastien Jacques is bearish about the outlook for thermal coal, forecasting that the price may not recover for 3-4 years. The head of the group’s coal division says his main aim at present is to ensure that all of Rio’s coal mines continue to be cash-flow positive. He has downplayed suggestions that Rio could exit the coal business, but says any asset would be for sale at the right price.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP

‘No way’ to a Glencore-Rio merger: Hockey

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Original article by Amanda Saunders
The Australian Financial Review – Page: 17 & 22 : 9-Apr-15

The prohibition on Glencore executives commenting on a bid for Rio Tinto lapsed on 8 April 2015, six months after Rio rejected a takeover approach. Glencore is tipped to make another bid for Rio, but Australian Treasurer Joe Hockey is believed to have explicitly ruled out Federal Government approval for such a deal. His comments are said to have been made at a private meeting with business leaders and mining industry executives in late March

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, AUSTRALIA. DEPT OF THE TREASURY, MINERALS COUNCIL OF AUSTRALIA, BUSINESS COUNCIL OF AUSTRALIA, BHP BILLITON LIMITED – ASX BHP, ARCHER DANIELS MIDLAND COMPANY, GRAINCORP LIMITED – ASX GNC, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, ALUMINIUM CORPORATION OF CHINA LIMITED