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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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Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
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- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
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