Colombia Coal Output falls 11.7%
Colombia, the world's fifth-largest exporter of coal, produced 19.6 million tonnes in the first quarter, down 11.7 percent from output the year before, the Energy and Mining Ministry said in a statement on Wednesday. In the same period last year, Colombia produced 22.2 million tonnes. In full-year 2017, the Latin American nation produced 89.4 million tonnes, slightly below 2016 when output was 90.5 million tonnes. The biggest players in Colombia's coal industry are Drummond Co…
Cerrejon's Coal Exports, Output Fall in 2016
Output and exports of coal by Cerrejon, Colombia's biggest coal producer, fell in 2016 for the second straight year, the company said on Tuesday. Production reached 32 million tonnes, down 3.6 percent from the previous year when output was 33.2 million tonnes. Cerrejon did not provide a reason for the decline. Exports slipped 2.99 percent to 32.4 million tonnes from 33.4 million tonnes a year earlier. Cerrejon is a joint venture between Australia-based BHP Billiton Ltd, London- and Johannesburg-based Anglo American Plc and Swiss-based Glencore Xstrata.
Colombia: the Wild Card in Asian Coal Prices
There are several reasons why coal prices in Asia are unlikely to rally much in the coming years, but the most compelling one is also likely one of the most obscure: Colombia. Why should a South American country that hasn't exported much coal to Asia recently provide the cap for prices? Because as soon as Asian coal prices rise to a level that would make sense for Colombian miners to resume exports, they will, and they have as much as 25 million tonnes of spare capacity in their production and export chain.
Colombia Coal Railway's Overnight Ban to Take Effect
A ruling ordering Colombia's Fenoco coal railway to stop running trains overnight after noise complaints by nearby residents could take effect from next Friday, a court source told Reuters, potentially cutting capacity for several large miners to export. The railway operated by U.S.-based miner Drummond Co Inc , Glencore's Prodeco unit and Goldman Sachs affiliate CNR was banned by the Constitutional Court last month from running between the hours of 10:30 p.m. and 4:30 a.m. local time (0330 and 0930 GMT).
Futures Edge Higher on Stronger Oil Prices
European thermal coal futures edged higher on Wednesday, buoyed by stronger oil prices. API2 2015 coal futures traded at $72.70 a tonne on Wednesday afternoon, up 10 cents on Tuesday's close. Traders said the rise came on the back of higher Brent crude prices, which climbed over $87 per barrel on Wednesday as oil traders anticipated that the Federal Reserve would keep U.S. interest rates low, putting pressure on the dollar. Weaker currencies in coal producing countries typically make exports more attractive at a time when the market is bearish because of excess supply.
Coal Prices Flat after Week of Steady Gains
European physical coal prices were flat on Wednesday as the market paused after rising for much of the past week. Cargoes for delivery in October to Amsterdam, Rotterdam and Antwerp (ARA) traded unchanged at $77.20 a tonne on the globalCOAL trading platform, with 100,000 tonnes changing hands. No other contracts on the platform had yet traded. The October contract has risen 3.3 percent in the past week on the back of wider gains in European energy prices. Meanwhile, Colombia's…
Reps to Negotiate End to Colombian Mine Strike
Mechanics at Colombia's largest coal mines will meet on Tuesday with contractor Dimantec and representatives from the labor ministry in an effort to negotiate an end to a 12-day strike. The 3,500-strong mechanics group is demanding improved pay, after Dimantec maintained the same salary offer made in previous negotiations, a union leader said. The meeting will begin at 10:00 (1500 GMT) in the northern city of Valledupar, Sintraime union head Felix Herrera told Reuters. "There's a lot of hope that there will be an accord which benefits everyone and we can lift the strike," Herrera said.
Europe Coal Prices on the Rise
European physical coal prices were slightly higher on Friday, on concerns about possible supply interruptions from Colombia and a further deterioration in Russia-Ukraine relations. Cargoes for delivery in August to Amsterdam, Rotterdam and Antwerp (ARA) were trading at $74 a tonne on the globalCOAL platform, 35 cents higher than the previous settlement. The September contract was 25 cents higher at $74.50 a tonne. Traders said a decision to continue a strike by 3,500 mechanics at Colombia's largest coal mines into next week had left the market a little jumpy…
Cerrejon Coal Mine Partially Closed Due to Dust
Colombia coal producer Cerrejon has slowed operations in the southern zone of its mine in order to keep particulate levels within legal limits amid a lack of rainfall, but said it still expected coal output to rise this year over last. The country's biggest coal miner said in an emailed statement that it stopped some of its machinery in June and that the dryness was linked to the El Nino weather pattern. "In August we'll look again at weather conditions and what possibility there is to resume operations in all of the mine," the statement said.
Colombia Coal Mechanics' Strike in 6th Day
Contractors maintaining heavy machinery at Colombia's largest coal mines remained on strike for a sixth day on Monday after fresh attempts to reach a negotiated settlement ended without a deal, a union leader said on Monday. Felix Herrera of the Sintraime union said Dimantec, a third-party contractor providing around 3,500 mechanics to Colombia's biggest miners including joint-venture Cerrejon and U.S.-based Drummond Co, had rejected a union proposal for a wage increase. The company…
Cerrejon May Declare Force Majeure on Coal Exports
Joint venture Cerrejon, Colombia's biggest coal miner, says it could run out of stocks at its port in one or two days, as third-party workers continued blocking its private railway line between its mine and port for the sixth day on Wednesday. Cerrejon may have to declare force majeure on coal exports as six days of protests on its private railway by security workers cause stocks at its port to fall to one or two days of shipments, the company said on Wednesday. (Reporting by Luis Jaime Acosta, Peter Murphy; Editing by Chizu Nomiyama, Jeffrey Benkoe)
Colombia Coal Output at 24.5 Mln Tonnes in F1 Q 2014
Colombia, the world's fourth largest exporter of coal, produced 24.5 million tons of coal in the first quarter, reported Friday the Ministry of Mines and Energy did not provide a comparative figure immediately. Between January and March, mineral extraction was affected by Drummond, the second largest producer of coal in Colombia, which remained paralyzed exports and activities in its two mines for 76 days, and went into operation its port direct loading on Caribbean Sea that meets the new environmental requirements.
