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