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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, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
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