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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, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
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- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
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