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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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Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
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- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
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