Chinese coal traders shrug off Indonesian coal export ban
Utilities in the region are fully relying on long-term contract supplies from domestic mines, and do not need to purchase from the spot market at the moment, said a Chinese coal trader.
In an open letter, investors including Aberdeen Standard Investments, M&G Investments and Legal & General Investment Management said that all lobbying by third parties should be consistent with mining companies’ views and producers should exit lobby groups if this isn’t the case.
New report shows private funds raising money for investment in metals and mining came up empty in Q3 and so far this year commitments total a paltry $100m.
The global collapse in coal prices this year has dealt a particularly heavy blow to miners in Indonesia, the top exporter and one of the largest producers of the fuel.