China-AsiaStocks.com (CAS), an investor and industry news portal for the China-Asia sector, provides an exclusive overview entitled “New Growth Opportunities for Coal Industry Worldwide”. The demand for coal is rising due to high oil prices and increasing applications in steel, with China as the major driving force. Industry participants BHP Billiton, Puda Coal, a Chinese coking coal producer, Massey Energy, and Fording Canadian Coal Solar, provide viewpoints on the critical influences within the current coal industry.
BHP Billiton (NYSE: BHP) Vice President Investor Relations and Communications Mark Lidiard states, ” Metallurgical coal is used in steel making industries, and incremental demand for metallurgical coal is primarily being driven by the growth in the Chinese steel market…” According to Zhao Ming Chairman and CEO of PUDA Coal (OTCBB: PUDC), “Mass construction of infrastructures in China, including but not limited to real estate development, extended urbanization process, west region development, and 2008 Olympic Games, are driving the demand for steel, therefore increasing the demand for coking coal.
Both Katharine W. Kenny, Vice President Investor Relations at Massey Energy (NYSE: MEE) and Susan Soprovich, Director of Investor Relations in Fording Canadian Coal Trust (NYSE: FDG) agree that limited supply is another driving force for the growth of the industry. Kenny stated, “The supply of the coal around the world, as well in the US and elsewhere, has been unable to keep up with the demand. So while demand has been increasing significantly, the price of coal has also increased due to supply constraints.”
Overview Excerpt: New Growth Opportunities for Coal Industry Worldwide
The world economy is showing signs of accelerating growth, triggering the increasing demand for coal that has been instrumental in boosting investment in the coal industry. The coal industry worldwide is presented with new development opportunities.
Katharine W. Kenny, Vice President, Investor Relations at Massey Energy, explains, ”The demand side is obviously driven by strong economic growth around the world, from the US and also from China. China is having a major impact on demand around the world. But right behind China is India and the US. So there has been some significant economic recovery throughout the world that is driving demand for both steam and metallurgical coal…”
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Puda Coal, Inc. (OTCBB: PUDC) through its affiliates and controlled entities, supplies premium grade coking coal to the steel making industry for use in making coke. The Company currently produces 1.1 million metric tons of cleaned coking coal annually, and management believes it is one of the largest suppliers of top grade coking coal in the Shanxi province of China. Shanxi province provides 20-25% of China's coal output and supplies nearly 50% of China's coke. Puda-Coal.com
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Source: China-AsiaStocks.com, BUP, PUDC, MEE, FDG