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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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Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Parliament of New Zealand
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- PTC India Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
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