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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, 09 July 09
COAL AND OIL GROUP TO INVEST $300 MN TO BUY SHIPS AND ACQUIRE COAL MINE
Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is pl ...
Thursday, 09 July 09
NO TRADE ON AUSTRALIA'S ASX COAL FUTURES DEBUT
*ASX's deliverable thermal coal futures debut without trade
*ASX says futures could present new arbitrage opportunities
The debut of Australia ...
Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the s ...
Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange ...
Tuesday, 07 July 09
RICHARDS BAY TERMINAL COAL EXPORTS ROSE 7.2% IN JUNE
Richards Bay Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments rose 7.2 percent in June from a year earlier.
Export ...
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- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
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