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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, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- PTC India Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
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