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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, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Marubeni Corporation - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
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