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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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Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
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- Central Java Power - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
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- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Planning Commission, India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
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- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
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- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
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