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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$6.10 for each share, 6.6 percent more than today’s closing price in Australian trading.
CSN said the acquisition is the “first step” toward becoming self-sufficient in coal as it seeks to control costs. CSN, which has the capacity to produce 5.6 million metric tons of crude steel a year, imports all its coal now. Metallurgical coal is used as a raw material in blast furnaces at CSN’s Volta Redonda crude-steel mill in Brazil.
“Coal is the only raw material CSN doesn’t have,” Flavia Ferreira, a company spokeswoman in Sao Paulo, said today in a telephone interview.
CSN initially wants to get metallurgical coal from Riversdale and possibly thermal coal for its power plants, Ferreira said.
CSN’s Strategy
The acquisition reinforces CSN’s strategy to supply its own raw materials and services “with stakes in iron ore, logistics, tin mining and now coal,” Ida Breyer, a Credit Suisse AG analyst in Sao Paulo, said in a note to clients.
Tata Steel Ltd., India’s biggest steelmaker, owns about 19 percent of Sydney-based Riversdale. Other shareholders include Oppenheimer Funds and Barclays Capital, according to Bloomberg data. Tata said Oct. 30 it was seeking thermal coal from Riversdale’s Mozambique mine for its power unit.
Benga, a project between Riversdale and Tata in Mozambique, will produce about 1.7 million tons of metallurgical coal and 300,000 tons of thermal coal starting in 2010, Riversdale said Oct. 28 in a statement to the Australian stock exchange. The mine may be expanded to 3.3 million tons of metallurgical coal and 2 million tons of thermal coal by 2014, Riversdale said.
CSN fell 0.8 percent to 59.37 reais in Sao Paulo trading today. The stock has more than doubled this year, more than the 79 percent gain for Brazil’s benchmark Bovespa index.
Source: Bloomberg
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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
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