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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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Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
Friday, 25 September 09
FREIGHT RATE CUTS MAKING SOUTH AFRICAN COAL MORE COMPETITIVE IN ASIAN MARKETS
Mining Weekly reported that, Coaltrans South Africa MD Gerard Strahan highlighted the country’s sudden increase in coal exports to southern Ch ...
Friday, 25 September 09
XSTRATA TO BUILD ITS OWN RAIL CAPACITY TO SHIP AUSTRALIAN COAL
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...
Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
Reuters reported that, India's biggest cement maker ACC Cement Ltd and Gujarat Ambuja will award on Thursday Sept 25 a tender for 100,000 tonnes ea ...
Thursday, 24 September 09
YUDEAN TO SIGN CO-OPERATION LETTER OF INTENT WITH RUSSIA COAL TRADE COMPANY
In the recent days, Gao Shiqiang, deputy manager of Yudean Group Co., Ltd. went and carried out the friendly talks with SUEK and inked the trade co- ...
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- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
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