ID Codes:  ISIN GB00B4323X41 / WKN A1JHWC/CUSIP G05900 108

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NIGERIA COAL (GENERAL DESCRIPTION)


nigeria-map Nigeria has a stable resources export economy and adequate infrastructure to support mining development projects. There is a sizable international market for seaborne trade in coal, exceeding 300 million tonnes per annum. The major exporters of coal are Australia, South Africa, Indonesia and the United States with Nigeria having the potential to become a major player in the international traded coal market to Europe due to its close proximity. A major emphasis on power generation is likely to also create a strong internal demand for coal.

Nigeria still holds large coal reserves, estimated to be at least 2 billion metric tons. The discovery of bituminous coal suitable for use in coke production for the iron and steel industries opens up potential new domestic markets.

Their characteristic properties (low sulphur and ash content and low thermoplastic properties), ash content and low thermoplastic properties), fired electric power plants.
In 1999, the Nigerian government unveiled new policies aimed at revitalizing the mining, agricultural, tourism, financial services, and manufacturing sectors in a broader effort to diversify the national economy.

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MARKET OVERVIEW

In 2010, global thermal coal production totalled 4.6 billion tonnes, with China being the largest thermal coal producer globally, accounting for approximately 47 per cent of global thermal coal production, followed by the U.S. and Australia. The majority of thermal coal produced is consumed in the country of production due to its relatively widespread availability and high transportation costs relative to its energy value and price. Thermal coal, which is also the type of coal mined here is used in electricity generation and other energy-raising processes, represented approximately 85 per cent of the 5.4 billion tonnes of total global coal production in 2010.

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