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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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Saturday, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
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- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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