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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, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
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