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Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
 COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of large, high quality coal resource and infrastructure development project in Queensland, Australia with an intent of furthering its strategic interests in the natural resources and energy sectors.
According to an E-Mail statement received by COALspot.com from the company, GVK Coal Developers (Singapore) Pte Limited (GVKCDPL), a step down subsidiary of GVK Natural Resources Pte Limited (GVKNRPL), (a GVK Group company) in joint venture with GVK Power and Infrastructure Limited (GVKPIL) has entered into various acquisition documents with Hancock Prospecting Pty Limited and certain of its affiliated entities (the Hancock Group) to acquire
► a shareholding up to 79% in the Alpha (‘Tad’s Corner’) and Alpha West (‘Paul’s Corner’) Coal Projects, located in the Galilee Basin in Queensland. Hancock Group retains the remainder of the shareholding;
►a 100% shareholding in the Kevin’s Corner Coal Project, located immediately adjacent to Alpha; and
► a 100% shareholding in the rail and port project connecting the above coal projects to the port of Abbot Point and Abbot Point T3 expansion project, whilst retaining some tonnage capacity for the Hancock Group
These projects are together one of the largest integrated coal development projects in the world. Some of the key highlights of the project are:
►The coal project consists of a 7.9 billion tonnes compliant with Australia’s Joint Ore Reserves Committee (JORC) resource categorisation, with 3.3 billion tonnes reserves in Measured + Indicated categories and with potential for more tonnage ;
► The infrastructure project involves the development, ownership and operation of an integrated infrastructure development consisting of a 495 km rail line and a 60 million tonnes per annum port at Abbot Point.
► At full production the three coal projects are together expected to supply about 84 million tonnes per annum to the global sea-borne coal market. The first phase of production, expected to start in 2014, envisages a total production of over 30 million tonnes per annum of high quality thermal coal.
►The coal mines will deliver a very high quality thermal coal with a Gross Calorific Value (as received) of about 5800-6000 kcal/kg and low ash and low sulphur content.
► The total investment in the first phase is estimated at approximately US$ 10 billion. This includes capital expenditure on the mines, rail line and port.
► Most of the coal from the project is intended for delivery into the Asian region as Letters of Intent for approximately 45 million tonnes per annum have already been signed or are in the process of finalisation with major utility companies in China, Japan, Korea, Taiwan and Vietnam.
► It is envisaged that GVK Energy, a subsidiary of GVKPIL will enter into a long-term coal supply contract for up to 20 million tonnes per annum.
► This is the only project in the Galilee Basin with a rail declaration, port allocation, native title and cultural heritage agreements for the entire project and Hancock is the only developer as on date to have actually mined, processed and transported coal proving the robustness of the Bankable Feasibility Study assumptions and the projects coal quality via international markets agreeing to conduct commercial scale trial burns.
► The projects are undergoing environmental assessment under the Alpha Project's EIS - the Alpha Project was declared a 'significant project requiring an EIS' under the State Development and Public Works Organisation Act 1971. The final approval is expected by the end of the year.
The consideration for the acquisition is US$ 1.26 billion to be paid in a phased manner to the Hancock Group with US$ 500 million payable now at Closing. Of the balance amounts, US$ 200 million will be paid one year from Closing and US$ 560 million will be paid on financial close for the project (anticipated to be in 2012) but in any event, no later than 3 years from Closing.
The funding for the acquisition is tied up with banks. The financing documents for funding the acquisition are being executed with the banks and the transaction is expected to Close and assets transferred in about two weeks.
About GVK
GVKPIL is one of India’s largest infrastructure developer with experience and expertise spanning areas such as Energy, Airports, Roads and Urban Infrastructure. In addition, GVK is also involved in many other businesses held by it privately including Real Estate, Hotels, Pharmaceuticals, Resources, etc. As on date GVK has invested over Rs.10,000 Crores (US$ 2.2 Billion) in various projects and has on hand projects in the pipeline of over Rs. 25,000 Crores (US$ 5.5 Billion).
For additional info on this acquisition click here
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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
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