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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, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
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- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- The University of Queensland
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
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