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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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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
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