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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, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
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- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
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- McConnell Dowell - Australia
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- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
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- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
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- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
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- Port Waratah Coal Services - Australia
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- Marubeni Corporation - India
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- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
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- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
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- Billiton Holdings Pty Ltd - Australia
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- Maharashtra Electricity Regulatory Commission - India
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- Edison Trading Spa - Italy
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- Metalloyd Limited - United Kingdom
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- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
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- White Energy Company Limited
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- Semirara Mining and Power Corporation, Philippines
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- Binh Thuan Hamico - Vietnam
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- Tata Chemicals Ltd - India
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- Australian Commodity Traders Exchange
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- Mjunction Services Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
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- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
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- Independent Power Producers Association of India
- Romanian Commodities Exchange
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- Borneo Indobara - Indonesia
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- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
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- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Parliament of New Zealand
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- GMR Energy Limited - India
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- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
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- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
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- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
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- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
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- MS Steel International - UAE
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- The State Trading Corporation of India Ltd
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- New Zealand Coal & Carbon
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- Minerals Council of Australia
- Parry Sugars Refinery, India
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- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
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- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
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- Price Waterhouse Coopers - Russia
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- Planning Commission, India
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