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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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Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
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