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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, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
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COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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