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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
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- Mercuria Energy - Indonesia
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- Minerals Council of Australia
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- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
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- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
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- VISA Power Limited - India
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- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
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- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
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- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
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- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
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- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
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