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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, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
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- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
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