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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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Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
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- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
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