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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, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
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- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
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- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
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- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
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- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
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- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
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- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
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- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
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- Australian Commodity Traders Exchange
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- Vedanta Resources Plc - India
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- Siam City Cement PLC, Thailand
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- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
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- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
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- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
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