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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, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
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- White Energy Company Limited
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
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- Heidelberg Cement - Germany
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- Cigading International Bulk Terminal - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
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- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
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- Wilmar Investment Holdings
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- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
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- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
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- Port Waratah Coal Services - Australia
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- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
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- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
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- Posco Energy - South Korea
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
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- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
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- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
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- Mintek Dendrill Indonesia
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- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
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- PTC India Limited - India
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- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
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- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
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- PowerSource Philippines DevCo
- Australian Coal Association
- The University of Queensland
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- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
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