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Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
 Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175.4 million) as it seeks greater control over raw materials.
The board of Brazil’s third-largest steelmaker approved an initial purchase of 28.8 million Riversdale shares, and CSN aims to buy an additional 2.48 million shares following Australian regulatory approval, the company said today in a statement. Rio de Janeiro-based CSN will pay A$6.10 for each share, 6.6 percent more than today’s closing price in Australian trading.
CSN said the acquisition is the “first step” toward becoming self-sufficient in coal as it seeks to control costs. CSN, which has the capacity to produce 5.6 million metric tons of crude steel a year, imports all its coal now. Metallurgical coal is used as a raw material in blast furnaces at CSN’s Volta Redonda crude-steel mill in Brazil.
“Coal is the only raw material CSN doesn’t have,” Flavia Ferreira, a company spokeswoman in Sao Paulo, said today in a telephone interview.
CSN initially wants to get metallurgical coal from Riversdale and possibly thermal coal for its power plants, Ferreira said.
CSN’s Strategy
The acquisition reinforces CSN’s strategy to supply its own raw materials and services “with stakes in iron ore, logistics, tin mining and now coal,” Ida Breyer, a Credit Suisse AG analyst in Sao Paulo, said in a note to clients.
Tata Steel Ltd., India’s biggest steelmaker, owns about 19 percent of Sydney-based Riversdale. Other shareholders include Oppenheimer Funds and Barclays Capital, according to Bloomberg data. Tata said Oct. 30 it was seeking thermal coal from Riversdale’s Mozambique mine for its power unit.
Benga, a project between Riversdale and Tata in Mozambique, will produce about 1.7 million tons of metallurgical coal and 300,000 tons of thermal coal starting in 2010, Riversdale said Oct. 28 in a statement to the Australian stock exchange. The mine may be expanded to 3.3 million tons of metallurgical coal and 2 million tons of thermal coal by 2014, Riversdale said.
CSN fell 0.8 percent to 59.37 reais in Sao Paulo trading today. The stock has more than doubled this year, more than the 79 percent gain for Brazil’s benchmark Bovespa index.
Source: Bloomberg
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Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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Showing 6226 to 6230 news of total 6871 |
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- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
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