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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, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
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- Eastern Coal Council - USA
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- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
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- Attock Cement Pakistan Limited
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- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
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- Anglo American - United Kingdom
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- Meralco Power Generation, Philippines
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- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
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- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
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- Romanian Commodities Exchange
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- Parliament of New Zealand
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- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
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- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
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- Intertek Mineral Services - Indonesia
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- Cigading International Bulk Terminal - Indonesia
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- Economic Council, Georgia
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- International Coal Ventures Pvt Ltd - India
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- Energy Link Ltd, New Zealand
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- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
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- Kalimantan Lumbung Energi - Indonesia
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- Planning Commission, India
- White Energy Company Limited
- New Zealand Coal & Carbon
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- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
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- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
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- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
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- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
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- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
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- Mjunction Services Limited - India
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- The University of Queensland
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
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