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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, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest E ...
Monday, 20 July 09
CHINAS COAL DEMAND, OUTPUT TO PICK UP IN H2 - GROUP 2
Financial24 reported that, China's coal demand is expected to gradually pick up in the second half of the year, and coal output will likely grow fa ...
Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering ...
Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months a ...
Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
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- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Planning Commission, India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
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