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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, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
Wednesday, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
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- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
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