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