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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, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Ministry of Finance - Indonesia
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- Wood Mackenzie - Singapore
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- Malabar Cements Ltd - India
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- Kapuas Tunggal Persada - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- Australian Coal Association
- Samtan Co., Ltd - South Korea
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- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
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- Larsen & Toubro Limited - India
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- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
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- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
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- The University of Queensland
- Tamil Nadu electricity Board
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- VISA Power Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
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- The State Trading Corporation of India Ltd
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- Mjunction Services Limited - India
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- White Energy Company Limited
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- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
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- Commonwealth Bank - Australia
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- London Commodity Brokers - England
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- International Coal Ventures Pvt Ltd - India
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