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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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Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
Wednesday, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
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- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
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