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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, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- The Treasury - Australian Government
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
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