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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, 17 July 09
THE NEW LAW OF MINERAL AND COAL MINING NO 4/2009 CREATE CONDUCIVE CLIMATE OF INVESTMENT IN INDONESIA
COALspot.com (Indonesia): The new Law of Mineral and Coal Mining No 4/2009, which replaces the old mining law No. 11/1967 has been signed by the Pre ...
Friday, 17 July 09
INDIA COAL TRADERS MUST OWN POWER, MINES - C&O BOSS
· Coal traders need to diversify to grow
· Coastal Energen to build first merchant power plant
· Tamil Nadu to see st ...
Friday, 17 July 09
CHINA SHENHUA ENERGY'S COAL OUTPUT SWELLS 17.6% IN H1
China Knowledge reported that, China Shenhua Energy Co Ltd, which is engaged in the coal mining, power generation and transportation businesses, on ...
Thursday, 16 July 09
CHINA ISSUES SECOND BATCH OF '09 EXPORT QUOTAS
China has issued 25 million tonnes of coal export quotas for the second batch this year, the National Development and Reform Commission said Wednesd ...
Thursday, 16 July 09
NTPC TO ENGAGE BANKERS TO ACQUIRE OVERSEAS COAL MINES
The Hindu reported that, State-run power generation company NTPC said it would appoint merchant bankers next month for acquiring coal mines identifi ...
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- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- PTC India Limited - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
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