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Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
 Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175.4 million) as it seeks greater control over raw materials.
The board of Brazil’s third-largest steelmaker approved an initial purchase of 28.8 million Riversdale shares, and CSN aims to buy an additional 2.48 million shares following Australian regulatory approval, the company said today in a statement. Rio de Janeiro-based CSN will pay A$6.10 for each share, 6.6 percent more than today’s closing price in Australian trading.
CSN said the acquisition is the “first step” toward becoming self-sufficient in coal as it seeks to control costs. CSN, which has the capacity to produce 5.6 million metric tons of crude steel a year, imports all its coal now. Metallurgical coal is used as a raw material in blast furnaces at CSN’s Volta Redonda crude-steel mill in Brazil.
“Coal is the only raw material CSN doesn’t have,” Flavia Ferreira, a company spokeswoman in Sao Paulo, said today in a telephone interview.
CSN initially wants to get metallurgical coal from Riversdale and possibly thermal coal for its power plants, Ferreira said.
CSN’s Strategy
The acquisition reinforces CSN’s strategy to supply its own raw materials and services “with stakes in iron ore, logistics, tin mining and now coal,” Ida Breyer, a Credit Suisse AG analyst in Sao Paulo, said in a note to clients.
Tata Steel Ltd., India’s biggest steelmaker, owns about 19 percent of Sydney-based Riversdale. Other shareholders include Oppenheimer Funds and Barclays Capital, according to Bloomberg data. Tata said Oct. 30 it was seeking thermal coal from Riversdale’s Mozambique mine for its power unit.
Benga, a project between Riversdale and Tata in Mozambique, will produce about 1.7 million tons of metallurgical coal and 300,000 tons of thermal coal starting in 2010, Riversdale said Oct. 28 in a statement to the Australian stock exchange. The mine may be expanded to 3.3 million tons of metallurgical coal and 2 million tons of thermal coal by 2014, Riversdale said.
CSN fell 0.8 percent to 59.37 reais in Sao Paulo trading today. The stock has more than doubled this year, more than the 79 percent gain for Brazil’s benchmark Bovespa index.
Source: Bloomberg
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Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
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- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
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