We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
|
|
|
Showing 6631 to 6635 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
|
| |
| |
|
