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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
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- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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- CNBM International Corporation - China
- London Commodity Brokers - England
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- Metalloyd Limited - United Kingdom
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- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
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- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
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