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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, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
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- GN Power Mariveles Coal Plant, Philippines
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- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
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- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
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- Electricity Authority, New Zealand
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- Goldman Sachs - Singapore
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- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
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- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
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- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
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- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
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- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Parliament of New Zealand
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
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- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
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- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
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- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- White Energy Company Limited
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- Australian Coal Association
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
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- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
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