COAL MINES AND MINING – AUSTRALIA

CFMEU warns big miners over casuals

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 8 : 26-Sep-18

The Construction, Forestry, Maritime, Mining & Energy Union says the landmark Federal Court ruling on the leave entitlements of casual workers may have implications for coal producers. The CFMMEU has advised companies such as BHP Billiton and Yancoal that they could be complicit in breaches of the Fair Work Act by using "permanent casual" workers supplied by labour hire firms. BHP is already the subject of a class action over allegations that labour hire companies were induced to employ workers at the Mount Arthur coal mine as casuals instead of permanent employees.

CORPORATES
CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, FEDERAL COURT OF APPEAL (CANADA), BHP BILLITON LIMITED – ASX BHP, YANCOAL AUSTRALIA LIMITED – ASX YAL, WHITEHAVEN COAL LIMITED – ASX WHC, GLENCORE AUSTRALIA PTY LTD, ANGLO AMERICAN AUSTRALIA LIMITED, PEABODY ENERGY AUSTRALIA COAL PTY LTD, ADERO LAW, WORKPAC PTY LTD, HAYS PERSONNEL SERVICES (AUSTRALIA) PTY LTD, PROGRAMMED MAINTENANCE SERVICES LIMITED, ONE KEY RESOURCES PTY LTD, ACTU, NSW BUSINESS CHAMBER LIMITED, AUSTRALIA. FAIR WORK COMMISSION

Coronado tips coal prices above $US170

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Original article by Peter Ker
The Australian Financial Review – Page: 13 & 16 : 25-Sep-18

Coronado Global Resources will have a market capitalisation of more than $4bn after its proposed IPO. The company, whose primary listing will be in Australia, proposes to issue 166.5 million CHESS Depositary Interests to local shareholders; its only shareholder Coronado Group will in turn sell more than 123 million CDIs. Coronado Global Resources’ assets include the Curragh coking coal mine in Queensland and several coking coal mines in the US. MD and founder Garold Spindler expects the price of coking coal to remain above $US170 per tonne in the near-term, due to continued strong demand.

CORPORATES
CORONADO GLOBAL RESOURCES INCORPORATED, CORONADO GROUP, ENERGY AND MINERALS GROUP, WESFARMERS LIMITED – ASX WES, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, BM ALLIANCE COAL OPERATIONS PTY LTD, MITSUBISHI CORPORATION, MMG LIMITED – ASX MMG, VIVA ENERGY GROUP LIMITED – ASX VEA

Shutdowns to hit China coal hardest

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 19-Sep-18

New Hope Corporation has posted a 2017-18 underlying profit of $253m, which is 96 per cent higher than previously. The result was underpinned by higher commodity prices and increased production. Meanwhile, CEO Shane Stephan forecasts that demand for Australian coal will remain strong over the next six months, despite looming industrial production cutbacks in China. He argues that the traditional winter shutdown in China primarily reduces demand for local rather than imported coal, which tends to be of higher quality.

CORPORATES
NEW HOPE CORPORATION LIMITED – ASX NHC, RIO TINTO LIMITED – ASX RIO

Strong Asian demand boosts coal exports

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Original article by Matt Chambers
The Australian – Page: Online : 11-Sep-18

The Australian Bureau of Statistics has reported that the value of thermal coal exports in July was at a record $2.45 billion, up 14 per cent from the previous month. Export volumes of thermal coal for July increased by 10 per cent to a record 19.87 million tonnes. The combined value of thermal and coking coal exports in July was $5.58 billion, compared to a value of $4.7 billion for iron ore. The latest federal Industry Department forecast suggests Australia will export 199 million tonnes of thermal coal in 2018-19.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, NEW HOPE CORPORATION LIMITED – ASX NHC, WHITEHAVEN COAL LIMITED – ASX WHC, ADANI MINING PTY LTD

Former Rio mines a boon for Yancoal

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Original article by Peter Ker
The Australian Financial Review – Page: 19 : 17-Aug-18

Yancoal Australia has reported a 2018 interim net profit of $361m. The result was boosted by the contribution of Rio Tinto’s thermal coal mines in New South Wales and a sharp rise in the price of thermal coal since the deal was struck. About $130m of the interim profit will be returned to shareholders via dividend payments, which equates to about $0.003 per share.

CORPORATES
YANCOAL AUSTRALIA LIMITED – ASX YAL, RIO TINTO LIMITED – ASX RIO, WHITEHAVEN COAL LIMITED – ASX WHC

Pure play coal just doesn’t make the cut for UniSuper

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Original article by Ben Potter
The Australian Financial Review – Page: 15 & 20 : 5-Jul-18

UniSuper’s Talieh Williams says the superannuation fund takes into account a range of factors when deciding whether to invest in a stock. UniSuper has relatively little exposure to the coal sector, and pure-play coal miners in particular, which she attributes to the super fund’s rigorous investment processes. Meanwhile, QSuper says it invests across the S&P/ASX 200 Index and therefore does have exposure to pure-play coal producers. Yancoal Australia recently blamed fund managers’ lack of interest in a capital raising for its proposal for a dual listing in Hong Kong.

CORPORATES
YANCOAL AUSTRALIA LIMITED – ASX YAL, UNISUPER LIMITED, QSUPER LIMITED, STANDARD AND POOR’S ASX 200 INDEX, HEALTH EMPLOYEES’ SUPERANNUATION TRUST AUSTRALIA LIMITED, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, WHITEHAVEN COAL LIMITED – ASX WHC, NEW HOPE CORPORATION LIMITED – ASX NHC, CLIMATE ACTION 100+, AGL ENERGY LIMITED – ASX AGL, ORIGIN ENERGY LIMITED – ASX ORG, ADELAIDE BRIGHTON LIMITED – ASX ABC, BORAL LIMITED – ASX BLD, SANTOS LIMITED – ASX STO, QANTAS AIRWAYS LIMITED – ASX QAN, BLUESCOPE STEEL LIMITED – ASX BSL, WOOLWORTHS GROUP LIMITED – ASX WOW, WOODSIDE PETROLEUM LIMITED – ASX WPL

Oil surge to drive $8.1bn LNG windfall

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Original article by Matt Chambers
The Australian – Page: 17 & 21 : 3-Jul-18

A quarterly report from the Office of the Chief Economist shows that Australia’s resources and energy exports are forecast to top $238.18bn in 2018-19, compared with $226.32bn in 2017-18. Revenue from LNG exports is expected to rise by 12 per cent to $43.5bn, while revenue from coking and thermal coal exports is tipped to be $58.1bn. Iron ore export revenue is forecast to be $57.7bn in 2018-19, while revenue expectations for 2017-18 have been scaled back from $65.3bn to $61.8bn.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE. OFFICE OF THE CHIEF ECONOMIST, SANTOS LIMITED – ASX STO, ORIGIN ENERGY LIMITED – ASX ORG, ROYAL DUTCH SHELL PLC, CHEVRON CORPORATION, ORGANISATION OF PETROLEUM EXPORTING COUNTRIES, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Revitalised Peabody sees wider role for coal

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Original article by Matt Chambers
The Australian – Page: 17 & 20 : 17-Apr-18

US-based Peabody Energy has a market capitalisation of around $US4.7bn ($A6bn) just over a year after it emerged from Chapter 11 bankruptcy protection. Peabody’s Australian operations in particular have performed well in the last year, having achieved a pre-tax operating profit margins of nearly 40 per cent in the March quarter. There has been speculation about potential acquisitions, but Peabody CEO Glenn Kellow says the company’s priority is to return capital to investors via share buybacks and dividends.

CORPORATES
PEABODY ENERGY CORPORATION, PEABODY ENERGY AUSTRALIA COAL PTY LTD, ELLIOTT MANAGEMENT CORPORATION, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, REALM RESOURCES LIMITED – ASX RRP, AGL ENERGY LIMITED – ASX AGL, NEW YORK STOCK EXCHANGE

Critics won’t stop Carmichael coal mine: Adani Australia boss Jeyakumar Janakaraj

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Original article by Mark Ludlow
The Australian Financial Review – Page: Online : 12-Mar-18

Adani Australia CEO Jeyakumar Janakaraj has attacked the amount of misinformation being spread by opponents of its proposed $A16.5 billion Carmichael coal mine. He notes that the mine has already secured over 100 approvals, and that Australia’s investment reputation would be at risk if a future government scrapped a project that had already secured appropriate government approvals. Janakaraj noted that forecast strong global energy demand over the next two decades made the Carmichael mine an economically viable project.

CORPORATES
ADANI MINING PTY LTD, AUSTRALIAN LABOR PARTY, NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY

Yancoal dares to dream dividends

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Original article by Paul Garvey
The Australian – Page: 31 : 2-Mar-18

Yancoal Australia has posted a 2017 net profit of $A229m, its first since 2012. The result was boosted by pre-tax earnings of $A276m for the Coal & Allied assets that Yancoal bought for $US2.7bn ($A3.5bn). Yancoal CEO Reinhold Schmidt notes that the deal made the Chinese-backed company the third-largest coal producer in Australia. He says dividends may be on the agenda at some point, but stresses that the focus is on delivering sustainable returns for investors.

CORPORATES
YANCOAL AUSTRALIA LIMITED – ASX YAL, COAL AND ALLIED INDUSTRIES LIMITED, RIO TINTO LIMITED – ASX RIO