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Latest market news

Pertamina buys into Philippine renewables firm

  • Market: Coal
  • 20/06/25

Indonesian state-owned oil and gas producer Pertamina has bought a 20pc stake in Philippine firm Citicore Renewable Energy (CREC) as it looks to expend its presence in the renewables sector.

The Indonesian firm's renewable energy (RE) subsidiary, Pertamina NRE, paid $120mn for the stake in a deal signed on 19 June. This is Pertamina's first renewable energy investment in the Philippines.

CREC is one of the Philippines' leading renewable energy producers, generating about 287MW peak (MWp) of solar power across the country. The company has 25.7MW of hydropower and 362 MW of wind power projects under development.

CREC plans to jointly explore renewable energy investments in Indonesia with Pertamina NRE. The partnership "is a way to elevate our capability in RE development, as well as a big step in accelerating our clean energy goals," said Pertamina NRE chief executive John Anis.

The deal comes after the World Bank approved a $2.1bn blended finance package earlier this week to accelerate Indonesia's clean energy investments.

The partnership will help strengthen energy co-operation between the two countries, Philippine energy department assistant secretary Mylee Capongcol said

The Philippines and Indonesia signed an initial agreement for energy co-operation in 2024, highlighting their joint commitment to the energy transition.

"Both Indonesia and the Philippines share common energy concerns, being dependent on coal-fired power plants and seeking an orderly transition to cleaner technologies," Capongcol said.

By Angie Liew

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11/07/25

Workers extend strike at Australian coal mine

Workers extend strike at Australian coal mine

Sydney, 11 July (Argus) — Unionised workers have extended a strike at US producer Peabody Energy's Metropolitan coal mine in New South Wales, Australia, halting production until 17:30 AEST (07:30 GMT) on 11 July. Workers launched the day-long stoppage late on 10 July, extending the previous 24-hour strike , the Mining and Energy Union (MEU) told Argus on 11 July. Metropolitan has faced significant labour disruptions since 18 June, when Peabody locked workers out of the mixed thermal, hard coking and pulverised coal injection (PCI) mine, without pay, over an ongoing employment dispute. The company's lock-out ended late on 9 July. The MEU and Peabody are negotiating a new enterprise agreement, but remain at odds over multiple issues, including the use of contractors. Both have engaged in Fair Work Commission-led mediation three times — most recently on 8 July — since the dispute began, but have no further meetings scheduled. Metropolitan Coal remains fully committed to ongoing good faith negotiations with the union, a Peabody spokesperson told Argus on 10 July. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Workers strike at Australian coal mine: Correction

10/07/25
News
10/07/25

Workers strike at Australian coal mine: Correction

Corrects mine lock-out start date in paragraph 3 Sydney, 10 July (Argus) — Mining and Energy Union (MEU) workers at US producer Peabody Energy's Metropolitan mine in New South Wales are striking over an ongoing pay dispute, halting production until 5pm AEST (7am GMT) on 10 July. MEU launched a five-hour stoppage at 5pm on 9 July, before extending it to 12 hours. The unionised workers launched another 12-hour strike early on 10 July, the union told Argus on the same day. Peabody locked miners out of the mixed thermal, hard coking, and pulverised coal injection (PCI) mine from 18 June until 5:30pm on 9 July, without pay, over an increasingly acrimonious employment negotiation. MEU and Peabody negotiators are at odds over the use of contractors at Metropolitan, among other issues. They met for Fair Work Commission-led mediation during the lock-out on 8 July. Metropolitan Coal remains fully committed to ongoing good faith negotiations with the union, a Peabody spokesperson told Argus on 10 July. The MEU's latest strike comes a day after unionised workers at global producer Glencore's 20mn t/yr Ulan thermal coal mine launched a day-long strike, targeting some underground operations at the complex. The Ulan strike is set to end on 10 July. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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US' Peabody extends coal mine lock-out: Correction

10/07/25
News
10/07/25

US' Peabody extends coal mine lock-out: Correction

Corrects mine lock-out start date in paragraph 3 Sydney, 10 July (Argus) — US coal producer Peabody Energy has extended a lock-out of workers at its Australian Metropolitan mine until late on 9 July, because of a continuing dispute with the Mining and Energy Union (MEU). MEU workers will remain barred from entering the mixed thermal, pulverised coal injection (PCI), and hard coking coal mine — which produced 1.8mn t of coal in 2024 — without pay until 9 July, the union and company confirmed on 7 July. Peabody's lock-out began on 18 June and was scheduled to end on 6 July . The company ended the action early on 3 July, but then reintroduced and extended it late on 4 July because of partial work bans. The MEU can launch an unlimited number of work stoppages and limited work bans at Metropolitan, based on a 7 June strike authorisation. The MEU and Peabody remain at odds over the use of contractors at the mine, among other issues. The two groups are scheduled to engage in a Fair Work Commission (FWC) mediation on 8 July. They have already had two FWC mediations over the dispute, said Peabody's vice-president of underground operations Mike Carter on 7 July. Peabody has also met with employees more than 10 times, he added. Metropolitan Coal remains fully committed to ongoing good faith negotiations with its workers, a Peabody spokesperson said on 7 July. MEU workers will rally outside the site early on 8 July, joined by other labour unions. The labour dispute at Metropolitan follows a series of strikes at Peabody Energy's 12mn t/yr Wilpinjong thermal coal mine in February, over a different contract negotiation. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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US BLM seeks to reopen PRB coal leasing

08/07/25
News
08/07/25

US BLM seeks to reopen PRB coal leasing

Houston, 8 July (Argus) — The US Bureau of Land Management (BLM) has started the process to reopen federal land in the Powder River basin to new coal leasing. BLM on 7 July said it is seeking public comment on potential amendments to resource management plans for the agency's Buffalo, Wyoming, and Miles City, Montana, field offices. Notices of intent to prepare the amendments were published in the Federal Register today. The agency is "considering updates to identify areas that may be suitable for future coal leasing," within the footprints of the Buffalo and Miles City field offices, it said yesterday. This would reverse plans finalized last year under the administration of former president Joe Biden that block new coal leasing on federal land in the Buffalo and Miles City regions, but allow existing leases to remain in effect until they expire. BLM's notices of intent are among steps the agency is making to comply with an executive order from president Donald Trump in January as well as an order from Interior secretary Doug Burgum in February aimed at expanding domestic energy production. The PRB is the largest coal-producing region in the US and a significant part of the basin's output is from mines on federal property. In the first half of this year, production from Wyoming and Montana mines accounted for about 41pc of all US output, according to US Energy Information Administration estimates. Both amendments BLM is working on would potentially revert plans to previous versions. For the Buffalo field office resource management plan, BLM will compare reopening 481,000 acres of land to leasing, as it had done in 2019, to maintaining the 2024 plan. In Montana, the proposed amendment focuses on going back to a 2021 plan for the Miles City field office that allowed leasing of an additional 1.2mn acres of federal land. BLM said it is seeking public comments, coal resource data and input on planning criteria and potential alternatives through 7 August. The National Mining Association said it will submit formal comments, emphasizing that "federal coal leasing remains an important part of the US energy mix, particularly as electricity demand rises and grid reliability becomes more critical." The Navajo Transitional Energy Company, which has mines that could be affected by the 2024 ban on new federal coal leasing, also voiced support and said that it plans to submit a formal comment. But the plans also are likely to face opposition and possibly legal challenges. Jenny Harbine, managing attorney for environmental group Earthjustice's northern Rockies office, on 7 July criticized BLM's actions as "pursuing yet another unwarranted coal giveaway". By Angelina Contreras Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Australia's Gladstone port coal exports drop in FY25

08/07/25
News
08/07/25

Australia's Gladstone port coal exports drop in FY25

Sydney, 8 July (Argus) — Coal shipments out of Australia's Gladstone Port — which mainly supports coking coal mines in the northeastern state of Queensland — fell by 2.5pc on the year to 64mn t for the July 2024-June 2025 financial year. The decline was due to a mix of domestic operational and weather challenges, and subdued global steel production. Coal producers in the region faced multiple mine, rail, and port disruptions over 2024-25, beginning less than a month into the financial year. Rail operator Aurizon — which manages the lines linking Queensland's mines to Gladstone Port — closed its 100mn t/yr Blackwater and 30mn t/yr Moura lines for two weeks over July-August 2024. Gladstone Port faced its own challenges later in the year. The LNG and coal hub handled [multiple work stoppages in December]( https://direct.argusmedia.com/newsandanalysis/article/2640101), during tense labour negotiations between the port's management and five worker unions. Coal and LNG exports from Gladstone fell by 9.3pc and 2pc, respectively, that month . Challenges around the port continued into 2025. Global natural resources company Glencore's Oaky Creek mine along Aurizon's Blackwater line has been shut since late-April 2025 due to a water leak from a storage facility. Another mine, US-Australian producer Coronado's Curragh mine, faced cash availability challenges for much of the year. Australian producer Whitehaven Coal, which ships coal out of a number of Queensland ports, including Gladstone, also reported reduced coal sales in January-March because of wet weather. Coal financing issues in Queensland — and the rest of Australia — will likely persist in 2025-26. Australian producer Bowen Coking Coal, which produces both thermal and coking coal at its flagship Burton mine complex, said on 3 July that it may soon need to halt or reduce production at the site, if it is unable to raise capital. The company was suspended from the Australian Stock Exchange (ASX) a few days later and remains suspended. Chinese purchases of Gladstone coal also fell in the 2024-25 financial year as the country's crude steel output waned. China-based steelmakers cut production by 1.7pc on the year in January-May 2025, data from China's National Bureau of Statistic show. Accordingly, China's coal buying from Gladstone also fell 5.2pc on the year, port data showed. Demand for Gladstone coal was largely supported by Vietnamese and Taiwanese buying in 2024-25 (see table) — a trend which is expected to continue over the coming years. Vietnam-based steelmakers bought 4mn t of Gladstone coal over the fiscal year, up from 2.7mn t in 2023-24. The country's coal imports — which include both thermal and coking coal — rose to a 23-month high in May, Vietnamese customs data show. Vietnamese demand for Australian coking coal is expected to remain elevated in 2025-26, pushing up Queensland coal exports , the state government said in June. The state also expects buying from India to rise though coal shipments to the south Asian country fell by 11pc on the year for the 2024-25 financial year to 11.8mn t. By Avinash Govind Gladstone coal exports (July-June financial years) t 2024-25 2023-24 Change (%) Vietnam 4,012,532 2,706,506 48 Taiwan 3,939,110 2,956,583 33 Japan 18,063,450 18,464,123 -2.2 India 11,784,331 13,167,414 -11 China 10,201,030 10,759,961 -5.2 Total 64,291,396 65,961,612 -2.5 * Total includes other countries Source: Gladstone Ports Corporation (GPC) Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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