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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, 14 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 11%; SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 11 ...
Monday, 13 July 09
EXPORT COAL PRODUCTION FROM MOOIPLAATS COULD START IN NOVEMBER
Mining Weekly reported that, South Africa-focused emerging miner Coal of Africa (CoAL) has completed a revised mining layout for its Mooiplaats ...
Monday, 13 July 09
NAPOCOR AWARDS 195,000 T COAL TO INDONESIAN FIRMS
ABC-CBN News reported that, Philippine electricity producer National Power Corp (Napocor) has awarded 195,000 tons in coal supply contracts to two I ...
Monday, 13 July 09
PAKISTAN TO IMPORT ABOUT 2.4 MILLION TONS OF INDONESIAN COAL AND 1.6 MILLION TON OF SOUTH AFRICAN COAL WITHIN NEXT 12 MONTHS
COALspot.com (Pakistan) : Pakistan has exported well over 12 million tons of cement while local sales have dropped a bit with the result 33 million to ...
Monday, 13 July 09
COAL SECTOR IN VIETNAM INCREASE THE TARGET 43 MILLION TONNES THIS YEAR
Asian Mining Stock reported that, there was a change in a very good Coal Mining Industries Group (TKV) that Vietnam has decided to increase coa ...
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- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
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