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Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
 * Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie Cowhig
Sales of coal mines across the globe will quicken now that end users and traders, particularly from India, rush to buy before prices start to turn higher.
The bonanza of coal mine sales forecast early this year failed to materialise because prices did not drop as sharply as buyers hoped, said analysts and companies chasing coal assets.
"Towards the end of this year and next year I think you'll see more deals done," said Peter Doyle, Head European Coal Consulting firm Wood Mackenzie. "On the M&A front I think the market has remained relatively subdued, perhaps buoyed by seaborne coal prices not sinking as low as some had forecast."
More metals mines too were expected to change hands.
"Most people are coming round to the view that the worst is over and starting to plan for the future," said Tim Williams, director in mining and metals Ernst & Young.
Mining majors such as BHP Billiton are cash-flush and expected to look more aggressively at buying assets, analysts said.
The value placed by sellers on coal mines has fallen by around 50 percent from $2.00 a tonne during the past 12 months based on proven reserves to $1.00, but this is still more than most buyers would accept.
"The prices asked for second and third-rate mines are probably double, even now, what we'd think is reasonable. But it's now or never," one major coal trader said.
"Even at $1.00 a tonne based on reserves this is expensive but if you take the view, which we do, that we must buy our own mines to secure long-term supply then it is reasonable," said a source at an Indian company firmly on the acquisition trail.
Indian end-users of both coking coal and steam coal have been seeking mines. Jindal Group and Tata have invested in Africa, Indonesia and Australia. Chinese companies are investing all over Africa, although not at the pace expected.
Many traders too around the world who aim to build a coal book of substance are aleady heavily pursuing assets.
Singapore-listed commodity trader Noble Group's purchase of Australia's Gloucester Coal was cited as a good value purchase by rival traders.
Trading giant Vitol Group is to take over Canadian producer Hillsborough Resources Ltd.
Vitol was expected to buy thermal coal mines in key producers during the next few years, industry sources said.
Swiss Glencore remains a giant in the world coal market partly because, its rivals freely admit, it is as much a producer as it is a trader through its ownership of huge, low-cost mines and its stake in Xstrata.
INDONESIA APPEALS LESS, S.AFRICA IS FOCUS
Recent and new entrants to the coal market are struggling to find working mines for sale which are, or have potential to be, large-scale, low-cost and have transport links to ports.
"There are some high-quality coal reserves left in Indonesia not owned by the major players but they are in Central Kalimantan a long way from any river, to move coal to the ports," said an Indian trader trying to buy Indonesian mines.
"And these are small-scale. There's only low-quality reserves left but the costs doesn't work into India," he added.
Indian companies, including Jindal, bought remote Indonesian mining concessions but these became loss-makers when prices for their low energy content coal fell below cash costs.
South Africa is increasingly the focus for Indian traders and end-users.
Jindal Steel & Power part of the Jindal Group in July bought South Africa's Kiepersol mine.
Buyers said they still hoped to find small to medium-sized South African mines at the higher end of the cost curve which may struggle to survive at current prices.
Failing that, some keen buyers said they are looking for undeveloped greenfield coal reserves in Africa which would take up to 10 years and huge investment before generating cash.
"If you take a longer-term view and do expect another commodity boom in several years' time, this kind of investment makes sense," one would-be buyer said.
Source: Forexyard
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Tuesday, 08 September 09
SOUTH AFRICAN COAL EXPORTS MAY RISE ON SALES TO INDIA
Bloomberg reported that, South African coal exports may rise to 100 million metric tons a year by 2020 and India may become the biggest destination ...
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 ...
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- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Parliament of New Zealand
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
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