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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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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Parliament of New Zealand
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Sical Logistics Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
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