Australia's New Hope boosts coal output in Aug-Jan

Spanish Market: Coal, Coking coal
18/03/25

Australian coal producer New Hope increased its thermal coal production by 33pc on the year over the first half of its financial year, August 2024–January, while increasing its exposure to the coking coal market.

New Hope raised the production rate at its Bengalla thermal coal mine in New South Wales (NSW) to 13.4mn t/yr of ROM coal towards the end of August 2024-January, in line with previously announced plans but below the site's approved capacity of 15mn t/yr.

The company mined 4.2mn t of saleable coal at the NSW mine over that period, allowing it to maintain its Bengalla guidance for the 2025 financial year ending 31 July at 8.1mn-8.7mn t of saleable coal, in its half-year financial report.

To the north of the site, in Queensland, New Hope produced 1.2mn t of saleable coal at its New Acland thermal coal mine over August-January, up from just 300,000t from a year earlier. The company only mined 1mn t of saleable coal at the mine over its 2024 financial year, ending 31 July 2024.

New Hope also negotiated a legal settlement with the Oakey Coal Action Alliance (OCAA), an activist group that had been opposing New Acland's ramp-up, on 13 January. The company's settlement enabled it to maintain New Hope's 2025 guidance at 2.8mn-3.2mn t of thermal coal.

But some of New Acland's coal exports may have been delayed by Cyclone Alfred in March, despite its production and legal successes over August-January. The Port of Brisbane, which handles exports from the site, closed for almost a week as the extreme weather system hovered off the coast of Queensland.

New Hope also increased its ownership stake in publicly traded coking coal producer Malabar Resources, from 20pc to 23pc, over the last half-year.

New Hope diversified its operations as coal prices started falling. Argus' Australian pulverised coal injection (PCI) and thermal coal prices have been sliding over the last three months. Its coal 6,000kcal NAR fob Newcastle price hit $100/t on 17 March, down by 24pc from $131/t on 17 December, while its PCI low-vol fob Australia price slid by 18pc over the same period.

By Avinash Govind

Saleable Coal Production				mn t
	August-January 2025	August-January 2024	August 2023 - July 2024	y-o-y Change (%)
Bengalla Mine	4.2	3.8	8.0	11
New Acland	1.2	0.3	1.0	300
Total	5.4	4.1	9.1	33
New Hope

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14/07/25

Trump amplifies attacks on renewable energy

Washington, 14 July (Argus) — President Donald Trump is ratcheting up criticism of wind and solar projects he says are a "blight", adding uncertainty for investors deciding which projects can still move forward despite the coming end to most of the industry's clean energy tax credits. Trump mounted one of his most expansive attacks yet on the renewable sector last week. For years, Trump has detailed his disgust for wind farms he sees as unsightly and too expensive, whereas he said he was a "big fan of solar" in last year's presidential debate. But Trump's perspective appears to have shifted. He now believes large solar projects are hated by farmers, "very, very inefficient and very ugly too", and should no longer be built. "We don't want wind, and we don't want solar, because they're a blight on our country," Trump said during a cabinet meeting on 8 July. "They hurt our country very badly." That stance offers another troubling sign for investors in wind and solar projects hoping to qualify for the 45Y and 48E clean energy tax credits before they are terminated under Trump's recently signed tax and energy law . Trump already signed an executive order last week seeking a "strict" interpretation of the end of those tax credits, such that fewer projects will meet a safe harbor deadline that will arrive as soon as 31 December. The administration has other potential tools to undermine wind and solar projects, many of which are depending on new electric transmission lines to connect to load centers. Last week, US senator Josh Hawley (R-Arkansas) said he had received assurances from US energy secretary Chris Wright that the administration would be "putting a stop" to the 800-mile Grain Belt Express transmission line, which would connect wind farms in Kansas to the eastern US. Last month, Wright said he sees intermittent power sources as a "parasite on the grid". The Energy Department did not respond to a request for comment. The Energy Department, in a document released this month, indicated it did not plan to spend $383mn that had already been appropriated for wind and solar projects this fiscal year under a bipartisan funding law Trump signed, a unilateral spending reduction that US senator Patty Murray (D-Washington) and US representative Marcy Kaptur (D-Ohio) said was "outrageous" and unlawful. The Trump administration also temporarily halted construction of the fully permitted Empire Wind project off the coast of New York, before allowing work to continue in May. US interior secretary Doug Burgum last month said in congressional testimony that the administration was reviewing "all offshore wind projects" and said there was "no appetite" for adding more "intermittent, unreliable [power] to the grid." Threat to dominance Democrats say attempts to undermine wind and solar will be counterproductive to Trump's own priorities of "energy dominance" because they are among the limited types of projects that can be brought on line quickly. US utility executives and data center developers have said they are facing wait times of three years or more for delivery of turbines for gas-fired turbine, given a surge of global demand for electricity needed for artificial intelligence. "There's a backlog of gas turbines, and geothermal and nuclear takes many years. Nothing else is ready," US senator Brian Schatz (D-Hawaii) said in a social media post last week. "Republican energy policy is to create shortages because they think solar is liberal." Clean energy groups are hoping that Republican lawmakers will pay a political price for voting to cut clean energy tax credits through Trump's recently signed tax and energy law. The industry group Clean Energy for America last week said it launched a billboard advertising campaign that it said was targeted against seven House Republicans who voted for the law. "We're making it clear who is responsible when constituents lose their jobs and find that their monthly electricity bill is higher than they can afford," Clean Energy for America president Andrew Reagan said. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Malaysia’s thermal coal imports edge higher in May

14/07/25

Malaysia’s thermal coal imports edge higher in May

Singapore, 14 July (Argus) — Malaysia's thermal coal imports slightly on the year in May as coal-fired generation increased. Thermal coal imports — including non-coking bituminous coal, sub-bituminous coal and lignite — rose by 3pc to 3.27mn t in May from 3.17mn t a year earlier, customs data show. Imports increased by 29pc from April. Malaysia imported 14.8mn t in January-May, up by 3.9pc from around 14.3mn t in the same period last year. Indonesian coal accounted for about 72.8pc of Malaysia's imports in May, at 2.38mn t. This is down by 3.8pc on the year, but up by 6pc from April. Receipts from Australia more than doubled to 646,000t in May from 316,000t a year earlier. This was also up from 165,000t in March. Shipments from Australia accounted for nearly 20pc of Malaysia's imports in May. Russian receipts reached nearly 219,000t in May, up by about 13pc on the year and by 24.2pc on the month. Russian coal accounted for 6.7pc of total imports in May. Power generation Malaysia was still affected by the southwest monsoon season in May, the Malaysian Meteorological Department said. The east coast of peninsular Malaysia and Sabah on Malaysian Borneo received higher rainfall at over 60pc above average. But the weather stayed hot in May. Average temperatures ranged from 26-30°C, with peaks reaching 36.2°C in the month, which likely drove demand for coal as a generation fuel. Coal-fired generation averaged 9.8GWh in May, up from 9.72GWh a year earlier but down from 9.9GWh in April, according to data from the Malaysian Electricity Supply Industry (MESI). Coal-fired generation accounted for 57.5pc of Malaysia's power mix in May, down from 59.5pc a year earlier, MESI data show. By Nadhir Mokhtar Malaysia thermal coal imports by origin t May '25 ± on-month (%) ± on-year (%) May '24 April '25 Indonesia 2,379,268 13.0 -3.8 2,473,730 2,105,162 Australia 646,153 292.5 104.2 316,436 164,645 Russia 218,688 24.2 13.4 192,786 176,023 China 23,411 2,129.6 822.1 2,539 1,050 Others 909 -98.8 -99.5 187,323 77,801 Total 3,268,429 29.5 3.0 3,172,814 2,524,681 Malaysia customs data Malaysia's thermal coal imports mn t Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump threatens Mexico, EU with 30pc tariffs

12/07/25

Trump threatens Mexico, EU with 30pc tariffs

Washington, 12 July (Argus) — President Donald Trump on Saturday said the US will impose 30pc tariffs on goods imported from Mexico and the EU beginning on 1 August. In a move that could significantly disrupt crude, refined product and other commodity flows, Trump made public on his social media platform letters sent to Mexican president Claudia Sheinbaum and European Commission president Ursula von der Leyen on Friday threatening the new tariffs. Trump also vowed to raise the tariffs even higher if Mexico or the EU were to retaliate with their own measures. The threats follow similar letters sent to leaders of other countries this past week, including a 35pc tariff on Canadian imports , likewise starting on 1 August, and a 50pc tariff on Brazilian imports . In his letter to Sheinbaum, Trump repeated previous justifications for higher tariffs by pointing to "Mexico's failure to stop the Cartels" smuggling fentanyl into the US. "Mexico has been helping me secure the border, BUT, what Mexico has done is not enough," Trump wrote. "If for any reason you decide to raise your Tariffs, then whatever the number you choose to raise them by, will be added onto the 30pc that we charge," Trump wrote to Sheinbaum. His letter to von der Leyen included similar language. Trump's previous executive orders regarding tariffs on Mexico and Canada carved out exemptions for goods compliant with the US-Mexico-Canada free trade agreement. A White House official on Friday, following Trump's 10 July Canadian tariff announcement, said the exemption will remain in place, with a caveat that Trump has yet to determine the final form of application. Regarding the EU, Trump argued the 30pc figure "is far less than what is needed to eliminate the Trade Deficit disparity we have with the EU". Mexico's ministries of the economy, foreign affairs, finance, security and energy said in a statement Saturday that they met with their US counterparts on Friday to begin negotiations to head off the new tariffs before 1 August. "We stated at the meeting that [the new tariff plan] was unfair treatment and that we disagreed." After receipt of the new tariff letter, von der Leyen said Trump's tariffs "would disrupt essential transatlantic supply chains, to the detriment of businesses, consumers and patients on both sides of the Atlantic". The US has clinched only one limited trade deal, which keeps in place a 10pc tariff on US imports from the UK while granting a lower-tariff import quota for UK-made cars. Trump has announced a deal with Vietnam, setting tariffs at 20pc. By David Ivanovich Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Workers extend strike at Australian coal mine

11/07/25

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.

Workers strike at Australian coal mine: Correction

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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Australia's New Hope boosts coal output in Aug-Jan

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