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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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Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
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- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- The University of Queensland
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
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