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Kyrgyzstan begins $430mn coal project backed by China

  • Spanish Market: Coal
  • 21/05/26

Kyrgyzstan has started building a coal logistics complex backed by $430mn of investment from China to help boost the central Asian country's growing solid fuel sector, the Kyrgyz energy ministry announced on Wednesday.

The large-scale investment from China is aimed at boosting Kyrgyz coal exports, improving its logistics capabilities and modernising its coal sector. The programme will be carried out through a partnership between state-owned coal producer Kyrgyzkomur, the Kyrgyz energy ministry and China's Xinjiang Dacheng Yuanlong Technology.

The project will be in Kyrgyzstan's southern Osh region and aims to provide modern logistics to export coal produced from the Tekelik deposit through to the Irkeshtam checkpoint, on the border with China's Xinjiang province. The border crossing is critical for Kyrgyz coal exports to China and serves as a major trading route for dry bulk transportation between the two countries.

In addition to reducing transportation costs and improving Kyrgyzstan's competitiveness in the overseas coal market, the project aims to increase the country's coal transportation capacity to 10mn t/yr.

The coal logistics complex in Osh will be comprised of two coal enrichments facilities and a coal conveyor belt system. Around $50mn is allocated to the first stage of the investment, which is expected to build a 7.7km conveyor system, with subsequent stages planned to expand it to 157km.

Separately, local Kyrgyz media reports said the country is exploring ways to utilise coal from its vast deposits to manufacture agricultural fertilizers.

The country has around 2bn t of coal reserves, according to estimates from the International Energy Agency, but older government estimates suggest they could be as high as 24bn t.

The Kyrgyz energy ministry said it had discovered five new coal seams in 2025 and is looking to use its coal deposits to cover a shortfall in domestic power generation while planning to boost its export capabilities.

By Shreyashi Sanyal

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21/05/26

UN backs ICJ climate ruling, key oil nations opposed

UN backs ICJ climate ruling, key oil nations opposed

Edinburgh, 21 May (Argus) — The UN general assembly has adopted a resolution welcoming an International Court of Justice (ICJ) advisory opinion on the obligations of countries to protect the environment from greenhouse gas (GHG) emissions, with only eight countries opposing — including the three largest oil producers the US, Saudi Arabia and Russia. Pacific island nation Vanuatu put forward the resolution to the UN general assembly, saying "the ICJ advisory opinion confirms that the protection of the climate system is a matter of legal obligation not political discretion". It was adopted on Wednesday, 20 May, with 141 votes in favour, including the world's largest GHG emitter China, eight against and 28 abstentions. Belarus, Iran, Israel, Liberia, Russia, Saudi Arabia, the US and Yemen voted against. The ICJ last year determined in an advisory opinion that all countries have an obligation to contribute to cutting emissions. This is not legally binding but could open door for more climate litigation . ICJ advisory opinions "carry significant legal and moral authority — helping to clarify and develop international law by defining states' legal obligations", the UN said. The UN resolution adopted calls on UN member states "to take all possible steps to avoid causing significant damage to the climate and environment, including emissions produced within their borders, and to follow through on their existing climate pledges under the Paris Agreement". Adoption "sends a strong message that tackling the climate crisis is a legal duty under international law, and not just a political choice," the UN said. The US opposed the resolution, with its representative saying the country has many concerns about the court's opinion. The US noted the resolution includes "inappropriate political demands relating to fossil fuels". Countries such as India, Saudi Arabia, Iraq and Algeria said the resolution failed to address the obligations on the provision of finance to developing countries, saying the focus was "disproportionally" on mitigation. India, Iraq and Algeria abstained. Russia said the resolution is an attempt to make ICJ opinion "mandatory in nature". It added the resolution "selectively cites the conclusion of the advisory opinion" and the outcomes of the UN climate conferences Cops, ignoring finance and adaptation — adjusting to the effects of climate change where possible. Algeria said the resolution is excessively "highlighting and rewriting" decisions from previous Cop outcomes. The text urges members to implement measures to keep the global temperature increase to 1.5°C, including tripling renewable energy capacity and doubling the global average annual rate of energy efficiency by 2030, transitioning away from fossil fuels and phasing out inefficient fossil fuel subsidies which were agreed at Cop 28 in Dubai. The UAE voted in favour of the resolution. Brazil, the Cop 30 president, also adopted the resolution, while Turkey, which will host Cop 31 in Antalya later this year, abstained. Australia, which will preside on negotiations of Cop 31, supported the resolution but said it should not be "interpreted as our agreement with every element of the advisory opinion". By Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Indonesia's commodity export plan rattles coal market

21/05/26
21/05/26

Indonesia's commodity export plan rattles coal market

Singapore, 21 May (Argus) — Indonesian coal suppliers and buyers are assessing the commercial implications of Jakarta's decision to channel exports of key commodities such as coal and palm oil through state-owned enterprises (SOEs), otherwise known as BUMN, which has created uncertainty around existing supply contracts and raised questions over the role of traders. The 20 May announcement is the latest in a series of policy changes that aim to give Jakarta tighter controls over the country's coal mining industry and bolster prices. These policy shifts follow a protracted downturn in prices that began in 2022, although prices have since recovered. Argus last assessed Indonesian GAR 4,200 kcal/kg coal at $63.77/t fob Kalimantan for coal loading on Supramax vessels, the highest since May 2023. The price increase has largely been driven by supply concerns after producers faced delays in receiving their 2026 work plans and budgets (RKAB), or output quotas. Other recent measures announced by the government that aim to tighten controls include plans to slash coal output this year, revising the validity period for RKABs back to one year from three previously, withholding coal export sales proceeds in onshore bank accounts and tweaking the domestic HBA coal reference price. Jakarta also previously announced plans to introduce a coal export tax, although this has been delayed. Indonesia is the world's largest exporter of thermal coal and shipped about 524mn t — more than half of total global seaborne supply — in 2025, although this was down by 6pc on the year. Last year's decline in exports was the first since 2020 when the Covid-19 pandemic weighed heavily on industry, denting global demand and at the same time affecting supply chain logistics. Phased rollout planned The latest policy will be rolled out in phases from June through August. Exporters will gradually shift contracts, transactions and payment flows to the BUMN, before the entity moves to full end-to-end control of transactions from September. It is unclear if there will be one enterprise or multiple entities, although a market participant said the BUMN could be linked to Danantara Indonesia. The BUMN will initially cover coal, palm oil and ferroalloys — commodities that accounted for around 23pc of Indonesia's total exports in 2025 — with the scope subject to quarterly review and possible expansion, according to research from Singapore's OCBC bank. The entity could essentially work as a marketing agent and export coal procured from domestic producers, traders said. President Prabowo Subianto cited an estimated $908bn in lost revenue over the past 34 years due to under-invoicing, transfer pricing and weak oversight of commodity export proceeds, arguing that tighter governance is needed to capture the full value of strategic commodities. The move comes at a time when the Indonesian currency has been among Asia's worst-performing in recent months, reflecting pressure from capital outflows and global dollar strength. The benchmark Jakarta Composite Index, representing 913 companies spanning sectors including commodities and energy, is down 30pc from the start of the year. Market participants said the absence of detailed transition guidance is already disrupting trade flows. A Singapore-based coal trader said there is no clarity on how existing contracts with shipments due this year will be handled, and all market participants are awaiting more operational details, which typically takes time to emerge in the commodity markets. Utilities in parts of southeast Asia as well as in India are concerned about term supplies and are seeking inputs from Indonesian suppliers on contracted deliveries. Reaction from China, the biggest buyer of Indonesian coal, has so far been cautious, with some market participants arguing that it will be difficult to implement such a policy in practice. An Indonesian coal producer acknowledged that it has received a number of calls from customers, seeking clarity on whether it will be able to fulfil contracts, but added that there are no clear answers as of now. Term supply contracts in focus The Indonesian Coal Mining Association (APBI) warned that a lack of technical clarity on how current sales will migrate to a BUMN-led structure could jeopardise long-term supply agreements, particularly multi-year offtake contracts. The industry is seeking confirmation on whether existing contracts will be honoured or will have to be renegotiated. In the spot market, at least one low-calorific value (CV) coal supplier has raised offers for July-loading Panamax cargoes of GAR 4,200 kcal/kg coal by as much as 10pc. Broader spot offers may be withheld pending policy clarity, traders said. While some market participants expect existing contracts to be honoured at least through this year, uncertainty remains elevated. Participants also raised broader structural concerns about the BUMN model. Coal transactions involve multiple technical and commercial variables — including CV, ash, moisture and sulphur content, vessel scheduling, blending requirements and payment terms — requiring significant operational expertise. The questions in the market range from operational issues involving mine planning to barge loading and transshipment to the risk of disputes, a trader said. There is also uncertainty surrounding long term off-take agreements between trading companies and producers, some of which involve pre-payments and funding arrangements. Traders with existing positions may face pressure to declare force majeure if the policy disrupts their ability to meet contractual obligations, a market participant said. The framework also adds another regulatory layer to an already complex environment that includes domestic market obligation (DMO) rules, export licensing, royalty adjustments, RKAB approvals, downstreaming requirements and directives to park sales proceeds in Indonesian banks for at least one year. An indirect policy impact could be on jobs that may be lost in the industry along with the potential removal of competition in the sector. There are also questions around the survival and existence of some trading and service companies, an official with a large southeast Asian utility said. Authorities will need to ensure private-sector incentives remain intact, OCBC said, warning that concerns about crowding out could deter investments in the coal sector, unless mitigated through policy clarity and ongoing engagement. Non-tax revenues are closely tied to commodity prices and there could be market volatility because of the plan, OCBC added. By Saurabh Chaturvedi and Andrew Jones Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Australian activists challenge Glencore coal expansion

21/05/26
21/05/26

Australian activists challenge Glencore coal expansion

Sydney, 21 May (Argus) — Australian environmentalists have launched court action to block Glencore's planned expansion of its Hail Creek open-cut coal mine in Queensland, citing concerns over methane emissions and native habitat destruction. The Mackay Conservation Group (MCG) lodged an objection against the proposed expansion in the Queensland Land Court on 20 May. The project would extend Hail Creek's mine life by three years, to 2038, and increase total run of mine (ROM) coal production by 24mn t. The mine is currently approved to produce 20mn t/yr of ROM coal. The project is inconsistent with domestic and international climate commitments, MCG said, estimating it would release over 70mn t of greenhouse gas (GHG) emissions and destroy around 600 hectares (ha) of high-quality koala habitat. The Hail Creek coal mine is regulated under Australia's Safeguard Mechanism, which imposes legislated emissions limits on large facilities, a Glencore spokesperson told Argus . The proposed expansion also includes a GHG emissions abatement plan and detailed mitigation measures for koala habitat, the spokesperson said. Glencore's draft emissions plan outlines the use of existing and emerging technologies to reduce fugitive emissions, including pre-drainage of methane from open-cut operations. Further studies are required to assess the viability of methane pre-drainage, which would be completed within two years of any project approval, the company said. Previous academic studies have indicated that methane emissions from Hail Creek may be four to five times higher than reported. By Emma Partis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Japan decides not to issue summer power saving request

21/05/26
21/05/26

Japan decides not to issue summer power saving request

Osaka, 21 May (Argus) — The Japanese government has decided not to request electricity conservation this summer, because the country has secured sufficient supply capacity and fuels to meet expected peak demand despite a hotter-than-normal weather forecast. All of Japan's 10 service areas are projected to maintain reserve margins of more than 3pc in July-September, above the minimum 3pc level needed to cope with emergencies such as spikes in demand and unexpected power plant outages, even if the country experiences its hottest summer in the past decade, Meti said on 20 May. The capital Tokyo region, Japan's biggest power consuming area, is now expected to post reserve margins of 3.5pc in the first half of August and 3.7pc in the second half. The ratio rose from the previous estimate of 2.4pc made in March for the entire month, given the capacity addition through the public tender. Tepco Power Grid secured 976MW, including 18MW of demand response, at an average contract price of ¥299/kW ($1.88/kW) through an open call for 1.2GW held in April, with the capacity required to be available over 1 July-18 September. Jera, the country's largest power producer, won the tender with its 1GW Sodegaura No.2 gas-fired unit, which has been mothballed since 1 April. Power demand in Japan is expected to remain firm this summer. Northern areas face a 60pc chance of above-normal temperatures in June-August and other regions a 70pc chance, according to a Japan Meteorological Agency forecast released on 19 May. Along with output capacity, power producers have so far secured sufficient fuel for generation, despite concerns over disruptions to crude and LNG shipments through the strait of Hormuz due to the US-Israel war with Iran. Japan's main power utilities held 2.04mn t of LNG as of 17 May, broadly in line with the average level for the past five years, Meti said. Thermal coal inventories also remained stable as of mid-May, while power producers generally maintain stocks equivalent to about one month's consumption, or around 7mn-9mn t, according to Meti's hearings with companies. Power producers also operate oil-fired plants during peak summer and winter demand periods. They held more than 500,000 kilolitres (3.15mn bl) in inventory as of the end of January, well above monthly consumption levels, while company hearings confirmed that stock levels remained stable as of mid-May, Meti said. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Indonesia to route key commodity exports via state firm

20/05/26
20/05/26

Indonesia to route key commodity exports via state firm

Singapore, 20 May (Argus) — Indonesian president Prabowo Subianto today announced that the government will require exports of key commodities to be routed through a state-appointed company, in a move that could tighten state control over flows as authorities grapple with fiscal pressures and a weakening currency. The policy will initially target palm oil, coal and ferrous alloys, Prabowo said in a parliament session on 20 May. The market awaits details of the policy, but under the broad plan, export sales would be channelled through a state-owned enterprise (BUMN), which would act as the sole counterparty to overseas buyers. Prabowo said a state-owned enterprise will act as a "marketing facility" which helps the state strengthen monitoring of export transactions and fight against under-reporting the value of exports in the country. The move is also to ensure that exporters do not "run away" from requirements to keep export proceeds in the country for at least one year, he said. Exporters of national resources, except for oil and gas, are required to place 100pc of the foreign currency proceeds into a special deposit account of a national bank for at least 12 months, according to a government regulation imposed in March 2025. Indonesia has lost about $908bn over 1991-2024 because of export under-invoicing, Prabowo said. "This will optimise our tax revenues and government proceeds from sales of key commodities and our natural resources," said Prabowo. "We don't want our exports to be the cheapest because we don't dare to control our own resources." The shift signals a move towards centralised trade management that could help the state capture more foreign exchange earnings and improve revenue collection. But it also risks disrupting established supply chains and complicating trade flows with international buyers. The benchmark Jakarta Composite Index, representing 913 companies spanning from sectors including commodities and energy, extended losses because of the announcement, dropping by as much as 2.4pc before trimming some intra-day losses. The index is down by 27pc from the start of the year. The phased roll-out of the scheme will begin in June and last through August, when exporters will have to gradually shift contracts, transactions and payment flows to BUMN or state-owned enterprises (SOEs), while still handling parts of the export process. The aim of the phased roll-out is to ensure that SOEs gradually take over the international sales of the commodities. The system is set to move to full implementation from September, with the SOEs assuming end-to-end control of transactions. This could include contract negotiation, documentation, shipping co-ordination and receipt of export proceeds, effectively positioning state firms as the primary interface between Indonesian producers and global markets. The Indonesian coal mining association (APBI) did not immediately respond to a request for comment. By Saurabh Chaturvedi and Nadhir Mokhtar Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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