Coal News & Price Data – September 26, 2023 – Sev.en Acquires 51% of Coronado
Sev.en Global Investments, is making a substantial bet on coal with a $1.6 billion deal to acquire a 51% stake in Coronado Global Resources.
Coal News & Price Data – September 25, 2023 – Met Mine Fire in Guizhou Province Claims 16 Lives
A coal mine accident in Guizhou province, China, claimed 16 lives after a conveyor belt caught fire, trapping workers underground.
Coal News & Price Data – September 22, 2023 – India to Burn 40% More Coal
India’s plans to add 25-30 GW of thermal power on top of 49 GW already under construction, resulting in 40% more coal burn.
Coal News & Price Data – September 21, 2023 – Chevron Foresees Prolonged LNG Deadlock
Chevron hasn’t reached an agreement with unions regarding strike action at the Gorgon and Wheatstone LNG facilities.
Met Producer Forecasts
Now that I’ve wrapped up the forecasts for the US met producers, I figured I would share it here so that we can compare and contrast.
Coal News & Price Data – September 20, 2023 – WHC to use $1B Loan to Buy BHP mines
Whitehaven Coal is considering using $1.1bn to $1.8bn in debt to purchase BHP’s coal mines in Queensland, as suggested by UBS analysts.
Met Producer Share Price Action
In terms of metallurgical coal equity share price action, it has been pretty exciting to say the least as they’ve rallied.
Met Market Update
Why is met rallying? Supply has become incrementally tighter and demand coming out of the summer doldrums is picking up again.
Coal News & Price Data – September 19, 2023 – New Hope Posts Solid Results
New Hope Coal reported record profits due to high coal prices, and plans to nearly double production this decade.
Coal News & Price Data – September 18, 2023 – Weekly Highlights
Thermal coal prices strengthened, surpassing $125 USD/ton, attributed to increased consumption and a sharp rise in gas prices.