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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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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 ...
Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
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- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
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- Bangladesh Power Developement Board
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- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
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