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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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Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
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