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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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Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
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- Minerals Council of Australia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- White Energy Company Limited
- MS Steel International - UAE
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Aditya Birla Group - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
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