Brazil’s Gerdau buys out Sumitomo Corp and JSW in Gerdau Summit
The transaction is expected to close in early 2025.
Indonesian coal giant Adaro Energy expects 2011 coal production up 5 million tons from last year to 46-48 million tons, and then to nearly 50 million in 2012, while Bayan Resources is aiming to more than double its output to as much as 25 million tonnes by 2013. Indonesia is expected to make up 39% of the global increase in coal exports, with Adaro and top miner Bumi Resources becoming two of the top three exporters by 2015.
Australia will follow closely behind in terms of growth. India will surpass Japan as the leading buyer of Indonesian coal this year, the country’s coal association told Reuters, and India’s demand will continue to surge as electricity demand is expected to rise 56% by 2017.
Hellenic Shipping News reports:
While India and China’s power needs are well known other fast-growing nations in the region are also planning sizable coal demand increases, likely a reflection of the high price of diesel, unreliability of hydro and start-up costs of nuclear.
