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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, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Central Java Power - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
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