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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
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
Wednesday, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
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- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
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