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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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Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
Monday, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
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- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- The University of Queensland
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
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