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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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Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
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