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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- India Bulls Power Limited - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
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