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Hong Kong stock market turbulence | Coal industry concept continues to decline, Mongolia Mining (00975) fell more than 10%. The decline in coal prices led to a significant drop in profitability for most coal companies.
Coal industrial concept (coal industry) continues to decline, as of press time, Mongol Mining (00975) fell 10.71%, reporting 9 Hong Kong dollars; SouthGobi (01878) fell 9.71%, reporting 3.16 Hong Kong dollars; Yancoal Aus (03668) fell 5.34%, reporting 34.6 Hong Kong dollars.
Coal industry stocks are under pressure. Hidili Industry (01393) fell by 8.08%. Institutions point out that coal production areas have strict and normalized safety supervision, and the increase in supply is limited.
Jinwu Finance News | Coal stocks under pressure, Hidili Industry (01393) fell 8.08%, Mongolia Energy (00276) fell 7.14%, SouthGobi (01878) fell 4%, Mongol Mining (00975) fell 3.97%, Yancoal Aus (03668) fell 2.6%, China Shenhua Energy (01088) fell 2.5%. Shanxi Securities said that coal production areas have strict and normal safety supervision and maintenance, and the supply increment of coal production areas is limited; in terms of demand, there is a north-south difference in electricity, southern hydropower and other clean energy continue to generate output, the coal consumption increases are limited, but the north continues to experience high temperatures, and the electricity...
Citic Sec: From 'having coal' to 'being capable', coal-electricity integration gains growth opportunities.
With the government relaxing its control on electricity prices, the overall net asset return of the "coal + electricity" sector has exceeded the market's average return. It is economically feasible to extend downstream power generation through the coal-electricity integration model relying on upstream resources.
SouthGobi Resources' Mongolian Unit Procures Construction Services for Dry Coal Separation System
SouthGobi Resources' (HKG:1878) Mongolian unit Southgobi Sands has hired Tangshan Shenzhou Manufacturing Group for the construction, operation, and quality management of a new dry coal separation
Two departments issued a plan for low-carbon transformation of coal-fired power, and coal-power integration received attention.
According to the website of the National Development and Reform Commission on July 15th, in order to coordinate the low-carbon transformation of existing coal-fired units and the construction of new low-carbon coal-fired units, improve the clean and efficient utilization level of coal, accelerate the construction of a clean, low-carbon, safe, and efficient new energy system, and help achieve the goal of carbon peak and carbon neutrality, the National Development and Reform Commission and the National Energy Administration recently issued the "Action Plan for Low-Carbon Transformation and Construction of Coal-Fired Power Plants (2024-2027)".
Southgobi has signed a construction and operation contract with Tangshan Shenzhou.
On July 15, 2024, Southgobi Sands LLC (SGS), a wholly-owned subsidiary of southgobi (01878), announced that it had entered into a build-operate-transfer (BOT) agreement with Tangshan Shenzhou Machinery Group Co., Ltd. (Tangshan Shenzhou). Under this agreement, Tangshan Shenzhou is responsible for the organization, operation and quality management of the new dry coal selection system of the Mongolian Ovoot Tolegai Coal Mine, including key equipment such as CZM1000 super dry selection mainframe and IDS2400A intelligent dry selection machine (collectively referred to as "dry coal selection system"). This system will become a addition to the company's existing machinary.
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