Yanzhou Coal News

Australian mining giant BHP Billiton pulled a $500 million debt refinancing plan at one of Australia's biggest coal export terminals after banks were reluctant to lend to the sector, said three sources with knowledge of the process. The decision earlier this month sets back efforts to simplify complex debt arrangements at the Newcastle Coal Infrastructure Group (NCIG) project and stalls BHP's plan to release cash tied up in the terminal as it looks to strengthen its balance sheet amid a global commodities slump. It also underscores the plight of the industry in trying to attract financing from lenders wary of coal's commercial outlook and contribution to climate change.

China's imports of coal in 2014 are expected to remain at the same level as last year, with demand growth slowing and the domestic market already well-supplied, a senior energy official said on Thursday. China imported 267 million tonnes of coal for the whole of 2013, up 14 percent on the year, with many buyers seeking out cheaper overseas supplies. Ren Lixin, director of the coal department at the National Energy Administration (NEA), told an industry conference that oversupply also remains a problem for a sector struggling with slowing demand and a campaign by the government to switch to less polluting energies. Oversupply was reflected in China's coal inventories…