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