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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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Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
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