Beleggen in steenkool

[nobody]

Britse netbeheerder zet voor het eerst reserve steenkoolcentrales in

De Britse netbeheerder National Grid, vergelijkbaar met Elia in België, heeft voor het eerst zijn reserve aangesproken van steenkoolcentrales. De combinatie van relatief koude temperaturen, weinig wind en ook nog eens weinig import vanuit Frankrijk door stakingsacties daar maakt de inzet van extra centrales noodzakelijk, klinkt het.

Maandag werd de EDF-centrale van West Burton gevraagd om zich "op te warmen" voor eventuele productie. Dinsdag werd die vraag ook gesteld aan nog twee centrales van Drax in Yorkshire. Volgens de netbeheerder zullen ze tussen 16.30 en 20.30 uur stroom moeten leveren om voldoende buffer te voorzien, aldus the Guardian.

De temperatuur in Londen ligt ruim 5 graden lager dan normaal voor deze tijd van het jaar. Daarnaast leveren de windmolens slechts 14 procent van de totale stroomcapaciteit in het Verenigd Koninkrijk.

https://www.msn.com/nl-be/nieuws/other/ ... e8a1&ei=55

[nobody]

China removes all remaining curbs on Australian coal imports

China will allow all domestic companies to import Australian coal, signaling an end to trade restrictions imposed in late 2020.

Ports and customs offices have been told to allow the cargoes, according to people familiar with the decision, who asked not to be identified because the information isn’t public. Earlier this year, authorities gave four major importers permission to resume purchases of Australian coal, which began shipping in January.

The National Development and Reform Commission, China’s economic planning agency, didn’t immediately respond to a request for comment.

High-quality Australian coal is much sought after by China’s steelmakers and power plants. Imports could reach 1 million tons in the first half of March alone, according to China’s top coal lobbying group. China is the world’s biggest producer and consumer and its imports of the fuel exceeded 290 million tons last year.

Major consumer
Australian coal mining stocks, including Yancoal Australia Ltd. and New Hope Corp., narrowed losses after the news. Chinese coking coal futures extended declines.

China had been a major consumer of Australian coal before implementing its unofficial ban as political hostilities escalated between the two countries. Australian leaders have said ending the ban would be a key step in restoring ties between the nations.

The thaw in relations between the two countries comes as a welcome development for Australian exporters of other commodities hit by a raft of restrictions, including lobster, beef, barley and wine.

Australian lobster exporters aren’t seeing the same obstacles from Chinese authorities that were previously in place, Australia’s Agriculture Minister Murray Watt said at a conference in Canberra last week. And there are early signs that impediments to beef and dairy shippers are also beginning to ease, he said.

https://www.mining.com/web/china-remove ... l-imports/

[Frazier]

Groot-Brittannië overweegt kolen als back-up voor volgende winter
Vandaag om 13:07

Groot-Brittannië overweegt enkele kolencentrales beschikbaar te houden voor back-upstroom om voldoende elektriciteitsvoorziening voor de komende winter te garanderen, aldus National Grid op woensdag.

Groot-Brittannië heeft zich ten doel gesteld zijn kolengestookte elektriciteitscentrales tegen oktober 2024 te sluiten als onderdeel van de inspanningen om de emissies terug te dringen overeenkomstig de klimaatdoelstellingen.

Exploitanten van centrales zoals EDF en Drax hadden aangegeven dat hun centrales vóór deze deadline zouden sluiten, maar ze zijn beschikbaar gehouden onder contracten met National Grid als onderdeel van noodplannen voor de winter van 2022/23 tegen de achtergrond van recordprijzen voor gas en de vrees voor leveringsproblemen.

National Grid's Electricity System Operator zei dat het door de regering is gevraagd om mogelijke noodcontracten voor kolencentrales voor de winter van 2023/24 te onderzoeken.

Deze winter zijn de noodkolencentrales slechts één keer gebruikt, toen een koudegolf het land begin maart teisterde.

[nobody]

Colombia coal mine gas blast kills at least 11

An explosion caused by accumulated gas in six adjoining coal mines in central Colombia has killed at least 11 workers and trapped 10 below ground, authorities said on Wednesday.

The explosion took place late on Tuesday in a rural area of Sutatausa, about 75 km (46 miles) north of Bogota.

“People are trapped between 700 and 900 meters,” Cundinamarca provincial governor Nicola Garcia told journalists, adding more than 100 rescue workers had joined the search.

Two people had already been rescued and seven escaped unaided.

“We are making every effort with the government of Cundinamarca to rescue the people who are trapped alive,” President Gustavo Petro said on Twitter. “A hug of solidarity for the victims and their families.”

The mines were authorized to operate, the national mining agency said.

Serious accidents are common at open pit and subterranean coal and gold mines in Colombia, mostly at illegal or informal operations and those without proper safety measures.

The most serious recent accident occurred in June 2010, when 73 people were killed in a mine explosion the northwest.

(By Luis Jaime Acosta and Julia Symmes Cobb; Editing by Nick Macfie)

https://www.mining.com/web/colombia-coa ... -least-11/

[nobody]

Investors question Teck on climate even after Canadian miner’s coal spin-out

Investors have yet to embrace Canadian miner Teck Resources Ltd’s proposal to spin off its highly polluting coal business and focus on production of copper to help supply society’s move toward electric vehicles.

Last month, Teck announced a split into copper-focused Teck Metals and Elk Valley Resources (EVR), which will focus on high-margin coal for steel making. Initial euphoria sent Teck shares higher, but since then, lingering questions about CO2 emissions at both companies have slammed the stock, which has lost a fifth of its value.

“I think the spin off makes sense in that it hard codes Teck Metals’ transition plan,” said George Cheveley, portfolio manager at London-listed asset manager Ninety One.

“However, they will also need to articulate a very clear transition plan for Elk Valley Resources as that is the company taking on the coal. This needs to be a credible plan as well and, whilst it can be longer term, it needs to demonstrate how they can support decarbonisation.”

The company has long debated how to transition to a greener future and attract investors concerned about environmental, social and governance (ESG) issues without losing profits or revenues from its highly polluting coal mines.

The divorce of Teck’s operations is messy from an environmental perspective. Key remaining questions include exactly when Teck will cut ties with EVR. The coal miner is set to pass through 90% of its free cash flow into the copper business for at least a decade.

Profitable assets that emit a lot of carbon present a dilemma for Teck and peers whose other operations could put them at the forefront of the transition to clean energy.

As markets begin to more accurately price climate risks and opportunities, some corporate boards are more open to spinning out carbon-intensive operations to attract investors and lower the capital cost of their environmentally friendly operations.

Other mining companies have also split off coal assets. Brazilian miner Vale, for example, has said it will separate its base metal and iron ore business to prepare for future growth from the electric vehicles market.

In 2021, South African miner Anglo American demerged and listed its thermal coal business. Some investors criticized the company, saying it undervalued its environmental liability costs, but the company called their analysis “flawed”.

Teck told Reuters EVR was committed to maintaining “strong” social and environmental performance, including reaching net-zero emissions by 2050, and would establish a trust to fully cover long-term environmental obligations.

However, Todd Kapala, vice-president and co-head, Canadian Equities of Addenda Capital, which owns a stake in Teck, said more was needed: “We want to see further leadership on reducing greenhouse gas (GHG) emissions.”

Before the split was announced, investors had had only partial success in pushing Teck to align its transition plan with the world’s climate goal, and still had questions about issues including its short-term emissions targets.

In its assessment, the Climate Action 100+ investor group said Teck had also yet to align its capital expenditure plans with the goals of the Paris Agreement on climate, which aims to limit global warming to 1.5 degrees Celsius.

A recent study by the International Finance Corp said miners must reduce emissions by almost 90% to make it worthwhile to dig out copper and other metals required for EVs.

“The full implications of Teck’s spin-out are yet to be understood – we are still in early days,” said Anthony Schein, Director of Shareholder Advocacy at Canadian shareholder engagement group SHARE, which is co-leading talks with Teck on behalf of CA100+, including about “the implications of this spin-off for climate action”.

Share slide

The questions have weighed on Teck shares, which lag mining industry peers. Nippon Steel Corp which in the new structure will own 10% of EVR, has said it is open to increasing its stake to 17% and is also seen as likely long-term majority owner of the assets.

Teck is by no means the worst performer on ESG issues. Sustainalytics, a leading provider of ratings used by investors, rated the company 7th out of 216 diversified metals companies while MSCI graded it a “leader” among 72 companies. Refinitiv, part-owned by Reuters parent company Thomson Reuters, ranked Teck 14th out of more than 400 peers.

“The coal business is profitable for now, and using its proceeds to fund its copper business is a pragmatic way towards transition,” said Dustyn Lanz, Senior Advisor ESG Global Advisors.

(By Divya Rajagopal and Simon Jessop; Editing by Denny Thomas and David Gregorio)

https://www.mining.com/web/investors-qu ... -spin-out/

[nobody]

China to implement zero tariffs on coal imports to end-2023

BEIJING (March 24): China will extend some preferential tax policies and continue to implement zero tariffs on coal imports until the end of this year, state media CCTV reported on Friday (March 25), citing a cabinet meeting chaired by Premier Li Qiang on the same day.

China cut tariffs on coal to zero in April last year in the face of concerns over domestic energy security and supply disruptions.

The country's coal imports in the first two months of this year surged 71% from the same period last year, as utilities stepped up purchases of cheap thermal coal from Indonesia while arrivals from Mongolia also picked up after the easing of Covid-19 restrictions.

China will also cut some taxes for small companies and individual businesses and extend such favourable policy until the end of 2024, state media reported.

Other preferential tax policies include a reduction in tax related to research and development and a halving of logistics companies' tax on warehouse land for bulk commodity storage in urban areas.

The cuts are expected to reduce the total burden by more than 480 billion yuan (RM309 billion) a year, CCTV said.

Last year, when private businesses were hit hard by stringent Covid-19 lockdowns and curbs, China's tax and fee cuts, tax refunds and deferred payments totalled 4.2 trillion yuan, the finance ministry said. That included 2.4 trillion yuan in VAT tax rebates, the largest in recent years.

https://www.theedgemarkets.com/node/660676

[nobody]

China doubles down on coal ahead of potential summer blackouts

BEIJING (April 12): China plans to accelerate the approval of new coal mines and fast track the construction of already approved mines to support its baseload energy supply during demand spikes, Liang Changxin, an official from the National Energy Administration (NEA), said on Wednesday (April 12).

Peak energy demand is expected to exceed 1.36 billion kilowatts this summer, representing a "significant increase on last year", Liang added.

Some provinces could face power cuts this summer as a result, the NEA official warned.

China's energy consumption typically spikes in the summer months due to household demand for air conditioning.

This, combined with a related slump in power from hydro sources due to low rainfall, led to a wave of blackouts across southwest China last year.

Officials have repeatedly stressed the role of coal as a "ballast stone" in the energy mix amid anational energy security drive, even as the country attempts to transition toward a greener, renewables-led power system.

https://www.theedgemarkets.com/node/663137

[Lotus]

Peabody:

[nobody]

China importeerde in maart recordhoeveelheid Russische kolen

BEIJING (ANP/BLOOMBERG) - Onder de in totaal 41,2 miljoen ton kolen die China in maart importeerde, waren volgens de meest recente Chinese douanegegevens ook recordaankopen van kolen uit Rusland en Mongolië. De Chinese regering heeft van energiezekerheid een prioriteit gemaakt nu de Chinese economie weer opengaat en de vraag naar brandstof toeneemt.

China kocht van Rusland 8,8 miljoen ton kolen, bijna drie keer zoveel als de hoeveelheid die het vorig jaar rond deze tijd afnam. Tegelijkertijd steeg de import van Russische ruwe olie eveneens naar een recordhoogte. De kolenimport uit Mongolië bedroeg 5,8 miljoen ton.

Sinds de oorlog in Oekraïne is Rusland uitgegroeid tot een belangrijke leverancier. Ruslands grootste thermische kolenmijn beloofde deze week om de export naar China dit jaar te verdrievoudigen om sancties elders te helpen compenseren. Het einde van de pandemie maakte bovendien vrijer verkeer van goederen over de grens met Mongolië mogelijk.

Indonesië blijft de grootste kolenleverancier van China, met meer dan de helft van het totaal.

https://www.msn.com/nl-nl/nieuws/Buiten ... e400&ei=42

[nobody]

China versnelt bouw van nieuwe kolencentrales

Chinese provinciebesturen hebben in het eerste kwartaal van dit jaar vergunningen gegeven voor kolengestookte energiecentrales met een capaciteit van minstens 20,45 gigawatt. Dat is meer dan in dezelfde periode vorig jaar (8,63 gigawatt) en bovendien ook meer dan de vergunde capaciteit in heel 2021 (18,55 gigawatt). Dat zegt Greenpeace, dat hekelt dat het land zo zijn beloftes om de uitstoot van fossiele brandstoffen te verlagen in het gedrang brengt.

De beloftes van China worden als essentieel beschouwd om de klimaatopwarming onder controle te houden: het land is, in absolute termen en per inwoner, de grootste uitstoter van broeikasgassen zoals CO2.

De nog hogere uitstoot die eraan zit te komen voedt de vrees dat China terugkomt op de doelen die het zelf gesteld had: tussen 2026 en 2030 de uitstootpiek bereiken, en tegen 2060 CO2-neutraal zijn. Vorig jaar werd 60 procent van de elektriciteit in China opgewerkt dankzij steenkool.

Nog meer kolencentrales brengen het risico van een klimaatramp dichterbij, betreurt Xie Wenwen van Greenpeace.

In 2022 keurden de Chinezen het hoogste aantal kolengestookte energiecentrales goed sinds 2015, bleek in februari al uit een studie van het Finse Centre for Research on Energy and Clean Air.

De meeste vergunningen werden verleend in provincies die vorig jaar problemen kenden met de stroomvoorziening, vanwege de recordtemperaturen die ervoor zorgden dat er minder energie met waterkracht werd opgewekt, stelt Greenpeace. De milieuorganisatie ziet zo een vicieuze cirkel ontstaan: kolencentrales bouwen, om airco's aan te drijven, veroorzaken meer CO2-uitstoot, die op hun beurt de klimaatverandering nog versnellen en leiden tot nog langere perioden van droogte.

Wind-, zonne-, water- en kernenergie moeten tegen 2025 in China goed zijn voor een derde van de elektriciteitsvraag, tegen 28,8 procent in 2020.

https://www.msn.com/nl-be/financien/nie ... 5289&ei=12