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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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Saturday, 25 July 09
HUANENG EYES MAJORITY STAKE IN PT BERAU COAL
CCTV reported that, China's largest publicly traded power company has submitted a bid for controlling stake in Indonesia's fifth largest coal mine ...
Saturday, 25 July 09
ADANI POWER TO IMPORT COAL FOR MUNDRA PLANT
BL reported that more than 50% of the coal requirement for Adani Power’s 4,620 MW Mundra plant will have to be imported from Indonesia though ...
Friday, 24 July 09
INDONESIAN COAL NEWS - UPDATE
Income from tax slow
Since the economic crisis in October 2008 until now, tax from the general mining sector is slow. According to the Director Gene ...
Friday, 24 July 09
S.AFRICA JAN-JUNE EXPORTS TO ASIA AROUND 1.4 MLN T
* China takes 140-150,000 tonnes
* S.Korea imports zero
* Hong Kong utilites buy S.African coal
South African coal exports to Asia excluding India a ...
Friday, 24 July 09
BIG ADARO SHAREHOLDERS CREATE HOLDING COMPANY
The nation’s second-largest coal producer, PT Adaro Energy, said on Thursday that five key shareholders had merged their holdings in the compan ...
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- Aditya Birla Group - India
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- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
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- Eastern Energy - Thailand
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- Thiess Contractors Indonesia
- India Bulls Power Limited - India
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- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
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- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
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- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
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- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
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- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
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- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
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