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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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Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
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- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- The University of Queensland
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
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