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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
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
Wednesday, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
...
Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
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- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
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