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Coal India to Rationalize Domestic Coal Pricing in Current Year

Coal India Ltd. (CIL) will rationalize coal prices based on Gross Calorific Value (GCV) before the end of the current fiscal year, but ruled out any move to align it with the international price of coal.

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Anglo American to Sell Callide Mine

Anglo American will sell its 100% interest in the Callide thermal coal mine in Queensland, Australia, to Batchfire Resources. The transaction remains subject to several conditions precedent, and its terms are confidential.

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China Set to Slash Steel, Coal Output

China, the world’s biggest steel and coal producer, will cut excess steel capacity by 100 to 150 million metric tons (mt) in the two key sectors as part of the painful restructuring of the world’s second largest economy, according to The Economic Times.

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Czech Republic’s NWR is Evaluating its Options

New World Resources (NWR) published the preliminary analysis of its strategic review process during December. Management has been focused on reducing operational and overhead costs and achieving a balance sheet restructuring in 2014. Despite these efforts, the group is cash flow negative. Given the market conditions, they could remain cash flow negative for several years.

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Falling Indian Coal Imports Will Be the Trend

Indian coal imports in the current fiscal (2015-2016) were expected to fall 10%-15% following rapid rise in domestic production and the trend has buoyed the Ministry of Coal to forecast achieving near self-sufficiency by 2017-2018. According to Ministry of Coal data, Indian coal imports recorded a fall for the five consecutive months during July-November 2015, while total inward shipment during the period April-November 2015 was down 9% at 119 million metric tons (mt) compared to 137 million mt during the corresponding period of previous year.

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