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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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Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- The University of Queensland
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
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