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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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Wednesday, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- Sindya Power Generating Company Private Ltd
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- Minerals Council of Australia
- ICICI Bank Limited - India
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- Goldman Sachs - Singapore
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- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
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- Commonwealth Bank - Australia
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- Electricity Generating Authority of Thailand
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- Independent Power Producers Association of India
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- Singapore Mercantile Exchange
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- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
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- Samtan Co., Ltd - South Korea
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- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
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- Energy Development Corp, Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
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- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
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- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
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- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
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- Parliament of New Zealand
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- South Luzon Thermal Energy Corporation
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- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
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- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
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- Bulk Trading Sa - Switzerland
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- Binh Thuan Hamico - Vietnam
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- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
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- The State Trading Corporation of India Ltd
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- Meenaskhi Energy Private Limited - India
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- Neyveli Lignite Corporation Ltd, - India
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