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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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Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
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- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
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- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
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- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
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- Ministry of Finance - Indonesia
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- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
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- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
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- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- The University of Queensland
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
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