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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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Wednesday, 15 July 09
INDONESIAN FIRM SUBMITS LOWEST BID FOR NAPOCOR COAL
ABS-CBN News reported that, An Indonesian firm offered to supply 195,000 tons of thermal coal to top Philippine electricity producer National Power ...
Wednesday, 15 July 09
INDIAN COAL MINISTRY TO CONSIDER POWER PLANT ALTERATION PROPOSALS
PTI reported that the coal ministry has agreed to consider applications of power plants seeking long term coal linkage due to enhancement in electri ...
Wednesday, 15 July 09
SHENHUA STARTS WORK ON INDONESIA POWER PLANT
Bloomberg reported that China Shenhua Guohau Power a unit of China’s biggest coal producer started construction of a power plant and mine in I ...
Wednesday, 15 July 09
PLN OPENS TENDERS FOR SUPPLY OF LOW - GRADE COAL
The Jakarta Globe, a Indonesian new paper reported that, State power utility PT PLN has opened a tender for the supply of low-grade coal for the nat ...
Tuesday, 14 July 09
MMTC SAYS MAY RE-TENDER FOR 12.5 MLN T COAL
* KIS has demanded investigation into procurement
* MMTC says import delays could add to power shortages
Alibaba reported that, India's s ...
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- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- GMR Energy Limited - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Central Electricity Authority - India
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