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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, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
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- Lanco Infratech Ltd - India
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- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
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- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
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- Planning Commission, India
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- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- European Bulk Services B.V. - Netherlands
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- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
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- VISA Power Limited - India
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- Economic Council, Georgia
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- Indonesian Coal Mining Association
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- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
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- New Zealand Coal & Carbon
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- Intertek Mineral Services - Indonesia
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- Australian Coal Association
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
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- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
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- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
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- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
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- Semirara Mining and Power Corporation, Philippines
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- ASAPP Information Group - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
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- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
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- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
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- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
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- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Mercuria Energy - Indonesia
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- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
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- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
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- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
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- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Tamil Nadu electricity Board
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- Vizag Seaport Private Limited - India
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- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
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