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Pulse of Charcoal - May 15
Coal industry - actual figures and facts. Partner project of the Modern Analytical Agency (CAA) and the EastRussia portal
Mining, logistics, prices, export - all that the coal industry in Russia and in the world lives on is concise and to the point - in a new partner project of the Modern Analytical Agency (CAA) and the EastRussia portal
A brief overview of the global coal market
Quotations on the European steam coal market continued to strengthen, exceeding $ 85 / t, amid rising prices for natural gas, electricity and high cost of carbon dioxide emission quotas. The price of natural gas on the European trading platform TTF increased to 26.2 EUR / MWh (+1.4 EUR / MWh by 05.05.2021). The cost of quotas for carbon dioxide emissions reached 54 euros / ton, which is the highest figure since the introduction of this instrument on the stock exchange in 2005. Coal reserves at ARA terminals amounted to 4.5 million tonnes (+0.2 million tonnes or + 4% to 05.05.2021/XNUMX/XNUMX).
South African coal indices were in the range of $ 102-105 tons, reaching their highest values since October 2018. On May 06.05.2021, 13, the South African operator Transnet resumed shipping coal on the railway line connecting the coal provinces of South Africa and the port of Richards Bay, while announcing the planned closure maintenance lines from 23 to 2021 July 3.0. Material stocks in the port of Richards Bay amounted to 0.1 million tons (-05.05.2021 million tons to 19). Nevertheless, the imposed lockdowns and restrictions in India against the backdrop of a new wave of the Covid-XNUMX pandemic in the country may lead to a decrease in Indian imports and become an obstacle to further growth in quotations of South African material. A number of ports in India have announced force majeure circumstances, while severe quarantine measures have begun to be introduced in individual states.
In the domestic market of China, there was a sharp increase in prices to $ 140 / t. local material 5500 NAR Qinhuangdao. The growth in quotations is associated with an increase in demand for electricity, as well as restrictions on coal mining in the regions due to recent accidents at mines and the PRC directives aimed at protecting the environment. However, the recent announcement by the Chinese government calling for containment and stabilization of commodity prices has negatively affected the price of futures, including iron ore and coking coal, and may limit the growth of global coal indices in the short to medium term. In addition, some market participants took a wait-and-see attitude, hoping for a correction in prices at annual highs.
High-calorific Australian coal quotes approached $ 100 / t. The Australian material indices were supported by the high price of South African Richards Bay coal amid increased trading activity by Korean and Taiwanese consumers. The increased demand of Chinese generating companies for coal from Indonesia after the end of public holidays strengthened the quotes of the Indonesian material 5900 GAR to over $ 90 / t.
Growth in demand from metallurgical plants in the Asia-Pacific region supported the coking coal indices from Australia, bringing them closer to the level of $ 115 / t.
Bogatyr cut can compete with Sibanthracite
The Bogatyr coal mine, the license for the development of which was put up for auction by the Federal Agency for Subsoil Use of Russia (Rosnedra), can compete with the world's largest anthracite producer, Sibanthracite.
The reserves of the Bogatyr open-pit mine located at the Gorlovskoye coal deposit in the Novosibirsk region are estimated at 300 million tons of anthracite. In 2020, production of anthracite in Russia amounted to 22.3 million tons (-0.4 million tons, or -1.8% by 2019), of which Sibanthracite accounted for 11.9 million tons, or 53%. According to preliminary estimates, the Bogatyr open pit may reach production volumes of 5-8 million tons in 2025-2030. Thus, the share of the Bogatyr open-pit mine could amount to a quarter of the 30 million tons of Russian anthracite production in 2030 (excluding the planned production of anthracite by the Arctic Mining Company, acquired from Alltek by Roman Trotsenko), while Bogatyr will become the second largest anthracite producer in Russia. after Sibanthracite.
The auction is scheduled for June 11, 2021. The starting price of the auction is 1.5 billion rubles. The final cost of the license could exceed $ 132 million, see (CAA Russian Coal Weekly, April 23, 2020). The Bogatyr open pit is claimed by a subsidiary of the Rostec state corporation - RT-Bogatyr, established on April 19, 2021, and Eduard Khudainatov's CoalStar, presented at the auction by two companies - Bogatyr open pit (registered in March 2021) and Antares (established in 2015) ... In addition, the Tashebinsky open-pit mine, registered in 2007 in Khakassia and owned by Igor Markanov, will take part in the auction. The net loss of this company in 2020 amounted to 45 thousand rubles. with an asset value of 3 thousand rubles. Each of the companies paid a deposit of 1.5 billion rubles, equal to 100% of the starting price of the auction, according to the terms of the auction.
The winner of the auction must guarantee the transportation of at least 10 million tons of coal per year along the Berdsk-Novoaltaisk railway line, adjacent to the Trans-Siberian Railway. Also, the company responsible for the development of the Bogatyr open pit will have to build at least five large-tonnage specialized vessels for the export of coal. The winner of the auction must not be an offshore company, must have no overdue tax arrears, and its beneficiaries must be Russian tax residents.
Rostec is a Russian state-owned corporation created to facilitate the development, production and export of high-tech products and controls assets in various industrial sectors. Over the past year, the corporation has expanded its portfolio of coal projects. In March 2021
A-Property transferred to Rostec 5% in the Elga coal complex. The state corporation also owns 25% in the Ogodzhinsky coal project with reserves of 1.5 billion tons of coal and 25% in the coal terminal of the port of Vera in the Primorsky Territory.
CoalStar is a coal mining holding that includes the Mayrykh coal mine and the Beyskoye coal deposit. The commercial coal reserves of the Beyskoye coal deposit amount to 1.36 billion tons. In 2020, the company produced 4 million tons of coal. By 2030, CoalStar intends to increase coal production to
30 million tons. On April 14, 2021, CoalStar holding announced its plans to create a railway operator in 2022 (see CAA Russian Coal Weekly, April 16, 2021).
Production at the Anzherskaya-Yuzhnaya mine has been suspended
On May 07, 2021, coal mining at the Anzherskaya-Yuzhnaya mine (Kemerovo region) was suspended for 20 days after Rostechnadzor discovered violations of labor protection and industrial safety standards.
During the inspection, Rostekhnadzor revealed an explosive concentration of methane and failure to comply with measures to prevent sudden emissions of coal and gas, which could cause an emergency and a threat to the life of the company's employees.
In 2018, the Anzherskaya-Yuzhnaya Coal Company bought out the bankrupt Anzherskaya-Yuzhnaya mine for 600 million rubles. ($ 7.8 million). In August 2019, 100% of the company's shares were pledged to Sberbank for a period of 10 years. In November 2020, the Federal Antimonopoly Service (FAS) issued a permit to Sberbank of Russia to acquire rights to determine the conditions for conducting business activities of the Anzherskaya-Yuzhnaya Coal Company (see CAA Russian Coal Weekly of November 20, 2020).
The Anzherskaya-Yuzhnaya mine is the only mining asset of the Anzherskaya-Yuzhnaya Coal Company. In 2020, the production of Anzherskaya-Yuzhnaya amounted to 0.61 million tons (+ 1.2% by 2019). In January-April 2021, Anzherskaya-Yuzhnaya increased the production of material to 0.32 million tons (+ 62% over the same period in 2020). The company extracts OS grade coking coal and plans to increase production to 1.4 million tonnes in 2021.