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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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Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
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- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Deloitte Consulting - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
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