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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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Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
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- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Australian Coal Association
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
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