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