[miningmx.com] – THERMAL coal prices were unlikely to return to 2011
levels, which were as high as $128.62/t in China, said Norman Mbazima, head of
Anglo Coal Thermal, a division of Anglo American.
In an interview with Bloomberg News, Mbazima said shale and gas exports would help
keep thermal coal prices down but that they would not fall below $100/t. “It’s not
great, but it’s still profitable for us,” Mbazima told Bloomberg News.
Increases in demand from India and China “and to some extent in Japan to replace
some of the lost nuclear capacity’ would help keep prices up, he said. “Those markets
are going to be the ones holding up the prices above the $100,’ Mbazima told
Bloomberg News.
