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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, 23 July 09
COAL IMPORTS SURGE; EXPORTS DOWN IN H1
China Trade Information reported that, China’s coal imports surged by 126.3 percent year-on-year in the first half of 2009, reaching 48.3 mill ...
Thursday, 23 July 09
SRI LANKA CALLS FOR COAL SUPPLY BIDS
Daily Mirro reported that, In a move to install the country’s first coal power plant, Sri Lanka has invited bids to supply 2.4 million metric ...
Thursday, 23 July 09
POWER INVESTORS TURN BACKS ON VIETNAMESE COAL IMPORTERS
VietNamNet Bridge reported that, Investors of power plants always seek foreign coal sources to import themselves, believing they can come by it chea ...
Wednesday, 22 July 09
BERAU COAL DRAWS LOCAL, CHINESE BIDS - SOURCES
* Indonesian coal firm draws local, Chinese bids-sources
* Deal could value Berau at more than $1 billion-sources
Reuters reported that, China' ...
Wednesday, 22 July 09
ONE TENDERS FOR 114,000 MT FOR NOV-JAN
Moroccan state-owned power utility Office National de l’Electricité (ONE) has launched a tender for three handymax shipments of coal fo ...
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- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Australian Coal Association
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
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