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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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Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
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- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Planning Commission, India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
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