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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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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
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