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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, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- MS Steel International - UAE
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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