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