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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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Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
Wednesday, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
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- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
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