COAL MINES AND MINING – QUEENSLAND

Blocking Adani mine would damage trade with India

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Original article by Mark Ludlow
The Australian Financial Review – Page: 6 : 5-Mar-19

Australia India Business Council chairman Jim Varghese says any move by state or federal governments to block Adani’s Carmichael coal mine would harm trade between the two nations. Varghese says India needs thermal coal to help meet its rapidly growing energy requirements, and he notes that Australian coal is cleaner than other sources. Meanwhile, Adani CEO Lucas Dow says the company would certainly seek compensation if the Greens private members’ bill to block thermal coal in Queensland is approved by state parliament.

CORPORATES
AUSTRALIA-INDIA BUSINESS COUNCIL INCORPORATED, ADANI MINING PTY LTD, AUSTRALIAN GREENS, CSIRO, GEOSCIENCE AUSTRALIA, AUSTRALIAN LABOR PARTY

Labor split erupts over Adani coal mine

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Original article by Mark Ludlow
The Australian Financial Review – Page: 1 & 2 : 19-Feb-19

CFMMEU Mining and Energy Queensland president Steve Smyth has accused the state government of a "go-slow" on approving Adani’s $2 billion Carmichael coal mine. It has been suggested that the government is trying to delay approval of the mine until after the federal election, so as to minimise any potential political damage to Opposition Leader Bill Shorten. Smyth says people in regional Queensland want to see the mine proceed, while he contends that thousands of jobs in the Galilee Basin are at risk if the state government does not approve the mine.

CORPORATES
CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN LABOR PARTY, ADANI MINING PTY LTD, AUSTRALIAN GREENS, QUEENSLAND. DEPT OF NATURAL RESOURCES AND MINES, WARATAH COAL PTY LTD, GVK INDUSTRIES LIMITED, QUEENSLAND. DEPT OF ENVIRONMENT AND HERITAGE PROTECTION

Adani tries to get things moving at Carmichael

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Original article by Jared Owens
The Australian – Page: 4 : 21-Dec-18

India-based Adani has commenced construction work on the rail component of its Carmichael coal project in Queensland. However, CEO Lucas Dow says work on the mine has been stalled by delays in gaining state government approvals for managements plans to protect groundwater and endan­gered species. Adani intends to fully finance the rail link, which could potentially be used by other mining companies.

CORPORATES
ADANI MINING PTY LTD, QUEENSLAND. DEPT OF ENVIRONMENT AND HERITAGE PROTECTION, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, GVK HANCOCK, WARATAH COAL PTY LTD, MACMINES AUSTASIA PTY LTD

Insurers shun Adani’s Carmichael mine

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Original article by Ben Potter
The Australian Financial Review – Page: 9 : 20-Dec-18

Activist group Market Forces claims that 10 leading insurance companies have ruled out providing coverage for Adani’s Carmichael coal mine in Queensland. They are said to include global insurers such as Allianz and AXA, as well as Australia’s QBE and Suncorp. Market Forces executive director Julien Vincent says insurers have the power to ensure that the mine does not proceed. Adani has scaled back the size of the project and announced that it will be self-funded after banks refused to provide financing for it.

CORPORATES
ADANI MINING PTY LTD, MARKET FORCES, ALLIANZ AG HOLDING, AXA SA, QBE INSURANCE GROUP LIMITED – ASX QBE, SUNCORP GROUP LIMITED – ASX SUN, SWISS REINSURANCE COMPANY, MUNICH REINSURANCE COMPANY, FM GLOBAL, ZURICH INSURANCE COMPANY, GENERALI, BERKSHIRE HATHAWAY INCORPORATED, SCOR SA, HANNOVER RUCKVERSICHERUNGS-AG, AMERICAN INTERNATIONAL ASSURANCE COMPANY, FRIENDS OF THE EARTH

BHP retreats from contract mining

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Original article by Matthew Stevens
The Sydney Morning Herald – Page: 30 : 6-Dec-18

The BHP Mitsubishi Alliance abandoned the direct employment model for workers at its Queensland coal mines in 2015. Contract labour now accounts for about 60 per cent of the work undertaken at BMA’s coal mines. However, the BHP Group-led joint venture has advised that it will directly employ 350 workers at the Daunia and Cavel Ridge mines in the Bowen Basin. BMA’s move may indicate that union influence at its Queensland coal mines is declining, and the new model is likely to be rolled out at BMA’s other mines in the state.

CORPORATES
BHP GROUP LIMITED – ASX BHP, BM ALLIANCE COAL OPERATIONS PTY LTD, MITSUBISHI CORPORATION, DOWNER EDI LIMITED – ASX DOW, AUSTRALIAN LABOR PARTY, WORKPAC PTY LTD, CHANDLER MACLEOD GROUP LIMITED, HAYS PERSONNEL SERVICES (AUSTRALIA) PTY LTD, CORE STAFF, LINKED GROUP, MONADELPHOUS GROUP LIMITED – ASX MND, ONE KEY RESOURCES PTY LTD

Coal boom looms after Adani start

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Original article by Michael McKenna, Jared Owens, Perry Williams
The Australian – Page: 1 & 2 : 30-Nov-18

India-based Adani will commence construction work on the Carmichael thermal coal project in Queensland’s Galilee Basin before the end of 2018. The mine and associated rail infrastructure is slated to cost less than $2bn, compared with initial expectations of $16.5bn. The scale of the project has been pared back from 60 million tonnes per annum to just 10 million in its first year, although this will gradually increase to 27.5 million tonnes. Queensland Resources Council CEO Ian Macfarlane says that up to five other coal projects in the basin could now proceed.

CORPORATES
ADANI MINING PTY LTD, QUEENSLAND RESOURCES COUNCIL LIMITED, MACMINES AUSTASIA PTY LTD, QUEENSLAND. OFFICE OF THE CO-ORDINATOR GENERAL, GVK INDUSTRIES LIMITED, HANCOCK PROSPECTING PTY LTD, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, SEW-EURODRIVE PTY LTD, AUSTRALIAN CONSERVATION FOUNDATION INCORPORATED

Adani’s cut-price Carmichael coal

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Original article by Peter Ker
The Australian Financial Review – Page: 13 & 28 : 6-Nov-18

Adani recently gave indications that thermal coal from its Carmichael mine in Queensland is likely to boast energy content of around 5,500 kilocalories per kilogram. Rory Simington of Wood Mackenzie estimates that if the coal were offered to buyers at current market prices, it would be likely to fetch between $US50 and $U55 per tonne. This compares with $US106 per tonne at present for higher-grade coal from the Hunter Valley. Simington expects Adani’s coal to have an energy content of 4,800 kilocalories per kilogram, although he adds that washing the coal could increase this to around 5,500 kilocalories.

CORPORATES
ADANI MINING PTY LTD, WOOD MACKENZIE, WHITEHAVEN COAL LIMITED – ASX WHC, BHP BILLITON LIMITED – ASX BHP, MACQUARIE GROUP LIMITED – ASX MQG

Adani close to action on scaled-back Carmichael mine

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Original article by Mark Ludlow
The Australian Financial Review – Page: 2 : 1-Nov-18

Adani Mining CEO Lucas Dow has declined to comment on speculation that the company will make a final investment decision on the Carmichael thermal coal mine in coming weeks. However, Adani is believed to be planning for annual production of 10-15 million tonnes in the first stage of the project, at a cost of less $2bn. The mine is now expected to have maximum production capacity of about 27 million tonnes a year, compared with initial plans for 60 million tonnes. The project is forecast to generate 1,500 jobs.

CORPORATES
ADANI MINING PTY LTD, AUSTRALIAN LABOR PARTY, NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY, BHP BILLITON LIMITED – ASX BHP

Coronado Coal burnt as shares dip on debut

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Original article by Matt Chambers, Samantha Bailey
The Australian – Page: 21 : 24-Oct-18

Coronado Coal has a market capitalisation of around $3.5bn after the stock closed at $3.60 on its first day of trading on the Australian sharemarket. Shares in Coronado were issued at $4 apiece, at the bottom end of the indicative range of between $4 and $4.80 in its prospectus. Coronado acquired the Curragh coking and thermal coal mine in Queensland from Wesfarmers earlier in 2018, while it also owns coking coal mines in the US.

CORPORATES
CORONADO GLOBAL RESOURCES INCORPORATED – ASX CRN, WESFARMERS LIMITED – ASX WES, SHAW AND PARTNERS LIMITED, WHITEHAVEN COAL LIMITED – ASX WHC, YANCOAL AUSTRALIA LIMITED – ASX YAL, NEW HOPE CORPORATION LIMITED – ASX NHC, STANMORE COAL LIMITED – ASX SMR, ENERGY AND MINERALS GROUP, ATLAS FUNDS MANAGEMENT PTY LTD, BHP BILLITON LIMITED – ASX BHP, STANWELL CORPORATION LIMITED, GOLDMAN SACHS AUSTRALIA PTY LTD, BELL POTTER SECURITIES LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED, UBS HOLDINGS PTY LTD

Why Coronado was shunned by big fundies

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 23-Oct-18

Many Australian fund managers chose not to participate in the IPO of Coronado Global Resources, forcing private equity firm Energy & Minerals Group to scale back the size of the raising and the issue price of Coronado share. Some resources-focused fund managers are said to have taken the view that Coronado’s offer price was less compelling than similar IPOs, while its commitment to pay out all free cash flows in its first year as dividends is also believed to have been a concern.

CORPORATES
CORONADO GLOBAL RESOURCES INCORPORATED – ASX CRN, ENERGY AND MINERALS GROUP, SHAW AND PARTNERS LIMITED, JANUS HENDERSON GROUP PLC – ASX JHG, PEABODY ENERGY CORPORATION