Coking coal Archives - The Coal Trader

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.

A coal mine accident in Guizhou province, China, claimed 16 lives after a conveyor belt caught fire, trapping workers underground.

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.

Chevron hasn’t reached an agreement with unions regarding strike action at the Gorgon and Wheatstone LNG facilities.

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.

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.

In terms of metallurgical coal equity share price action, it has been pretty exciting to say the least as they’ve rallied.

Why is met rallying? Supply has become incrementally tighter and demand coming out of the summer doldrums is picking up again.

New Hope Coal reported record profits due to high coal prices, and plans to nearly double production this decade.

Thermal coal prices strengthened, surpassing $125 USD/ton, attributed to increased consumption and a sharp rise in gas prices.