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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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Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher price ...
Saturday, 06 August 22
GERMANY'S ENERGY U-TURN: COAL INSTEAD OF GAS - DEUTSCHE WELLE
Berlin has realized it will never again import as much energy from Russia as before the Ukraine war. So the challenge is to wean Germany off its de ...
Saturday, 30 July 22
NUANCES OF FORCE MAJEURE CLAUSE - BALTIC EXCHANGE
Knowledge to Elevate
In NKD Maritime Limited v. Bart Maritime (No 2) Inc (Shagang Giant) [2022] EWHC 1615 (Comm), Bart Maritime (No 2) Inc (th ...
Saturday, 30 July 22
AEMO URGES QUICKER SHIFT TO RENEWABLES AMID COAL FAILURES AND SOARING FOSSIL FUEL COSTS
The Australian Energy Market Operator has called for an accelerated shift to wind and solar, backed up by batteries and other storage, as a devasta ...
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- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Planning Commission, India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
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