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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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Wednesday, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
Wednesday, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
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- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
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