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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, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
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