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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, 01 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE BY 12PCT
Bloomberg reported that Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 12% last ...
Wednesday, 01 July 09
RS 6,000CR MMTC COAL IMPORT PLAN UNDER CLOUD
The plan of MMTC Ltd, a trading firm under the commerce ministry, to import coal worth Rs 6,000 crore has come under cloud, with the Central ...
Wednesday, 01 July 09
INDONESIAN FIRM BIDS FOR 130,000T COAL FOR NAPOCOR
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it received two bids from Indonesia's PT Trubaindo and its loc ...
Wednesday, 01 July 09
COAL PRICE INDEX TO BE LAUNCHED IN JULY
India will soon get a coal index to track the coal price movement in the country.
India's leading e-commerce company Mjunction Services Ltd will ...
Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
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- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
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- McConnell Dowell - Australia
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- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
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- Riau Bara Harum - Indonesia
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- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
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- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
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