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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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Thursday, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
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- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Interocean Group of Companies - India
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