We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
Friday, 17 July 09
CHINA COAL-SPOT PRICES EDGE LOWER, SUPPLY APLENTY
China Mining reported that, spot prices in China's top coal shipping port Qinhuangdao edged lower from a week earlier, as supply grew, offsetting t ...
|
|
|
Showing 6586 to 6590 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
|
| |
| |
|
