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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, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
Thursday, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Planning Commission, India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
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