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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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Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
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- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
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