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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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Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
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