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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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Tuesday, 22 September 09
SHORT PERIOD RATE FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI just dropping by about 5 pct to 2,356 points last week. The change ...
Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
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- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
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