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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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Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...
Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
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- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Australian Coal Association
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