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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, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
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