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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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Tuesday, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
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- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
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