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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, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
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- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
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