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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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Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
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- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
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