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Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
 * Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie Cowhig
Sales of coal mines across the globe will quicken now that end users and traders, particularly from India, rush to buy before prices start to turn higher.
The bonanza of coal mine sales forecast early this year failed to materialise because prices did not drop as sharply as buyers hoped, said analysts and companies chasing coal assets.
"Towards the end of this year and next year I think you'll see more deals done," said Peter Doyle, Head European Coal Consulting firm Wood Mackenzie. "On the M&A front I think the market has remained relatively subdued, perhaps buoyed by seaborne coal prices not sinking as low as some had forecast."
More metals mines too were expected to change hands.
"Most people are coming round to the view that the worst is over and starting to plan for the future," said Tim Williams, director in mining and metals Ernst & Young.
Mining majors such as BHP Billiton are cash-flush and expected to look more aggressively at buying assets, analysts said.
The value placed by sellers on coal mines has fallen by around 50 percent from $2.00 a tonne during the past 12 months based on proven reserves to $1.00, but this is still more than most buyers would accept.
"The prices asked for second and third-rate mines are probably double, even now, what we'd think is reasonable. But it's now or never," one major coal trader said.
"Even at $1.00 a tonne based on reserves this is expensive but if you take the view, which we do, that we must buy our own mines to secure long-term supply then it is reasonable," said a source at an Indian company firmly on the acquisition trail.
Indian end-users of both coking coal and steam coal have been seeking mines. Jindal Group and Tata have invested in Africa, Indonesia and Australia. Chinese companies are investing all over Africa, although not at the pace expected.
Many traders too around the world who aim to build a coal book of substance are aleady heavily pursuing assets.
Singapore-listed commodity trader Noble Group's purchase of Australia's Gloucester Coal was cited as a good value purchase by rival traders.
Trading giant Vitol Group is to take over Canadian producer Hillsborough Resources Ltd.
Vitol was expected to buy thermal coal mines in key producers during the next few years, industry sources said.
Swiss Glencore remains a giant in the world coal market partly because, its rivals freely admit, it is as much a producer as it is a trader through its ownership of huge, low-cost mines and its stake in Xstrata.
INDONESIA APPEALS LESS, S.AFRICA IS FOCUS
Recent and new entrants to the coal market are struggling to find working mines for sale which are, or have potential to be, large-scale, low-cost and have transport links to ports.
"There are some high-quality coal reserves left in Indonesia not owned by the major players but they are in Central Kalimantan a long way from any river, to move coal to the ports," said an Indian trader trying to buy Indonesian mines.
"And these are small-scale. There's only low-quality reserves left but the costs doesn't work into India," he added.
Indian companies, including Jindal, bought remote Indonesian mining concessions but these became loss-makers when prices for their low energy content coal fell below cash costs.
South Africa is increasingly the focus for Indian traders and end-users.
Jindal Steel & Power part of the Jindal Group in July bought South Africa's Kiepersol mine.
Buyers said they still hoped to find small to medium-sized South African mines at the higher end of the cost curve which may struggle to survive at current prices.
Failing that, some keen buyers said they are looking for undeveloped greenfield coal reserves in Africa which would take up to 10 years and huge investment before generating cash.
"If you take a longer-term view and do expect another commodity boom in several years' time, this kind of investment makes sense," one would-be buyer said.
Source: Forexyard
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Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
Thursday, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...
Thursday, 15 October 09
AUSTRALIAN MINING COMPANIES REPORTED FINDING 1.5 BILLION COAL MINE DEPOSIT IN MOZAMBIQUE
Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...
Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
Reuters reported that, Indonesia's state electricity firm PT Perusahaan Listrik Negara (PLN) has raised more than $1 billion from a group of banks ...
Wednesday, 14 October 09
LARSEN & TOUBRO MAY ENTER POWER GENERATION BUSINESS IN INDIA
Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...
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- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Planning Commission, India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
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