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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, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
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- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
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- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
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- Pipit Mutiara Jaya. PT, Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
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