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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, 16 July 09
JAPAN'S J - POWER STARTS OPS AT NEW 600 MW COAL UNIT
Reuters, a worlds leading news agency reported that, Electric Power Development Co (J-Power) said on Thursday it started commercial operations at it ...
Thursday, 16 July 09
DELIVERY OF COAL MINE EXPLORATION THROUGH NEWCASTLE PORT ROSE 11 PERCENT
July 16th, 2009 Newcastle is a port in Australia that provides services in the delivery of coal from Australia to other countries. Newcastle port ha ...
Thursday, 16 July 09
CIL KEEN ON JOINT VENTURES
* Targets to raise production by 10 m tonnes by 2012
* Plans to tap reserves of abandoned mines
The Hindu, an Indian news paper reported that, t ...
Wednesday, 15 July 09
COAL INDIA INVITES EOI FOR COAL MINING IN FOREIGN COUNTRIES
Economict Tmes reported that, Coal India, a leading PSU with a status of Navratna, today, invited Expression of Interest for selection of strategic ...
Wednesday, 15 July 09
BANGLADESH TO IMPORT COAL FROM INDIA FOR 1 MORE YR
Bangladesh has decided to import coal from neighbour India for another year to save foreign exchange and time, a commerce ministry official said on ...
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- MS Steel International - UAE
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
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