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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, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
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Showing 6416 to 6420 news of total 6871 |
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- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- PTC India Limited - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
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