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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, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- The University of Queensland
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
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