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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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Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
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- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- PTC India Limited - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- The University of Queensland
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
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