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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, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
Wednesday, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
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- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
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