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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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Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expe ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
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- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
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