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If there's no alternative well it would beat having nothing but it's sub-bituminous coal grading to borderline bituminous.
It'll work but it's not great.
If there's no alternative well it would beat having nothing but it's sub-bituminous coal grading to borderline bituminous.Whatever happened to Muga and Griffin in SW WA. Poor quality thermal coal from memory
Export volumes out of South Africa have been dropping with 2021 the lowest year since 1996 at only 59 million tonnes: https://ieefa.org/ieefa-update-south-african-coal-miners-must-get-used-to-low-export-volumes/
The west coast of Australia is further away but not substantially so. However New Hope is saying that Europe can't rely on Australia for coal due to short and medium term supply being tied up.
If NHC can get to and hold above $4.32 it could head to $6 as the next steps.
It is on its tippy-toes I think GG. It is just peeking over the top of a long term falling trendline and may fall back after it goes ex div on the 14/4. It got slammed after its October '21 ex div and fell back about 25%. I would certainly not be a buyer at the moment. I have a feeling my unrealized gains may shrink a bit but meh, whatever! I don't think it is over for coal just yet but I could be wrong, I may well say, gosh I knew it was at its top, I should have sold. Maybe it is just a good buying opportunity for someone possibly? Dunno!NHC looks good. Over 50% gain since Feb 22 but is it toppy ?
Beijing indicates Australian coal ban to end
Beijing has praised Penny Wong for the “positive elements” in her recent remarks on the Australia-China relationship, as the Xi administration indicated it will soon end a two-year ban on Australian coal.
The new comments by China’s foreign ministry — delivered days after a state media outburst at Defence Minister Richard Marles — appear to be an attempt to reframe a recent meeting between Foreign Minister Wong and her Chinese counterpart, coverage of which has focused on a list of four points Beijing said were required to improve the relationship.
They were delivered along with a fresh editorial in party state media that indicated Beijing is preparing to cease the unofficial black-listing of Australian coal, which it has mostly blocked since mid-2020.
“China has noted the positive elements of the statement of the Australian side,” said Chinese foreign ministry spokesman Zhao Lijian on Tuesday evening.
“China-Australia relations are presented with both challenges and opportunities. We hope the Australian side can seize the opportunities, shape up a right perception of China, stay committed to seeking common ground while putting differences aside when getting along with China, and take concrete actions to build more positive dynamics for improving bilateral relations,” the spokesman said.
“China is ready to act in the spirit of mutual respect, work together with the Australian side and advance bilateral relations along the track of comprehensive strategic partnership for steady development and for the benefit of the two peoples,” he said.
In what appeared to be a co-ordinated effort, China Daily ran an editorial in its Wednesday paper on the outlook for the bilateral relationship titled: “Positive dynamic has m uch potential to mine”.
China Daily, an English language masthead often used by Beijing to speak to foreign capitals, noted recent comments by Treasurer Jim Chalmers urging China to “relax restrictions” on imports of Australian coal.
The paper also noted reports that Chinese officials were considering a “potential shift” to import more Australian coal, which comes as China’s economy is under huge pressure.
China Daily blamed the black-listing — the biggest strike in Beijing’s $20 billion a year trade coercion campaign — on the “anti-China policies” of the “two successive Australian governments”.
The party state masthead said that while Beijing had noted some improvements in Australia, it was unhappy with Defence Minister Marles comments about China during a recent Washington trip.
It also indicated that while the coal ban would likely soon end, volumes were not expected to return to their pre-2020 levels as Chinese importers adapt to the “new situation” in bilateral relations.
“Chinese importers may not have as strong an appetite to import Australian coal as before as the price right now is much higher than that of domestically produced coal,” China Daily said.
Ministers and government officials in the Xi administration almost never agree to interviews, meaning transcripts by officials and reports in state media are closely read for signals of Beijing’s policy direction.
Even China’s ambassador Xiao Qian — who has earned praise for meeting with business people and former politicians since he assumed his Canberra post — has only given a single media interview since arriving in January.
Ambassador Xiao’s one public appearance has been on a panel organised by UTS’s Australia-China Relations Institute where he was asked vetted questions by ACRI’s director James Laurenson.
Beijing’s new praise of Foreign Minister Wong’s “positive elements” were in reference to comments she made a week earlier on Australian breakfast television.
In an interview, Senator Wong challenged the media characterisation of the four points in the official Chinese summary of her meeting with her counterpart Wang Yi.
“I’m not sure I would describe what was put out as a four-point plan. Those are, essentially, the points that the Chinese have made for some time. They’re reasonably high-level rhetorical points and they’re reasonably unsurprising,” Australia’s top diplomat said.
Confusion about what exactly was intended by the post-Bali statement has extended to China.
The reporter at the People’s Daily, the Communist Party’s mouthpiece, described them as a “four-point plan put out by China”, according to an edited transcript released by the Chinese foreign ministry.
A report by the party state masthead Beijing Daily based on the official Chinese transcript was titled: “Chinese and Australian foreign ministers met, Wang Yi made 4 requirements”.
The four points that Mr Wang listed in the statement as necessary to improve the relationship were that Australia must treat China as a “partner rather than a rival”; the two countries must seek “common ground while shelving differences”; Australia must reject “manipulation by a third party”; and both countries must build “public support featuring positiveness and pragmatism”.
WILL GLASGOW
NORTH ASIA CORRESPONDENT
Maybe Wong will get a job with one of the CCP's big filthy banks after her political career of appeasment - like the worker's friend comrade Keating.
I think China used the change in government as an excuse they could use to import our coal because the shortages (caused by Indonesia restricting export) was creating dissatisfaction at home. The comments about Penny Wong was simply saving face. I hope our government stands firm and insists on the other bans being lifted as a condition of allowing coal exports to China.
more likely .. with a commodity broker in SingaporeMaybe Wong will get a job with one of the CCP's big filthy banks after her political career of appeasment - like the worker's friend comrade Keating.
UNLESS the QLD. government pivots on policy allowing the expansion of coal projects , although NHC might have spent the investment capital elsewhere by now , and Adani will step the negotiations up a couple of notchesAgreed.
If Coal imports to China start again, it will be tight for a while as most of our miners found new buyers for their coal. This can only be good for profit margins.
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