UBS Coal Sector overview made a few interesting observations:
- Mongolia is exporting 15Mt this year, lifting to
almost 50Mt by 2015. The key constraint on Mongolia’s supply growth relates to rail infrastructure development.
- longer-term factor that may undermine the value of the seaborne met-coal trade is the trend-withdrawal of China, as it turns increasingly to Mongolian coal
If DRG can firm up a decent resource (quality and quantity) it should do okay. Not sure we'll get to back above recent high (equivalent of +$3.50) ST but you never know when you are dealing with good SCC coal specs & + extraordinary 60m seams.
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- ready for the coke demand
ready for the coke demand, page-8
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