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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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Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Riau Bara Harum - Indonesia
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- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
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- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
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- Rio Tinto Coal - Australia
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- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
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- Independent Power Producers Association of India
- Romanian Commodities Exchange
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- Africa Commodities Group - South Africa
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- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
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- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
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- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
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- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
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- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
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- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
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- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
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- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
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- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
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- Global Business Power Corporation, Philippines
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- Economic Council, Georgia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
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- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
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- Kapuas Tunggal Persada - Indonesia
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- Salva Resources Pvt Ltd - India
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- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
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- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
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- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
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- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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