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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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Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
Friday, 14 August 20
EIA: COAL PLANTS UNECONOMICAL IN MOST REGIONS - IEEFA
U.S. coal power generation plunged by 30 percent in the first half of 2020 off an already-depressed base, shoved out by natural gas and renewables ...
Thursday, 13 August 20
INDIA SHOULD RECORD A SLIGHT DECREASE IN THERMAL COAL IMPORTS, REACHING A VOLUME OF 167 MILLION TONS BY THE END OF 2020 - ASSOCARBONI
Regarding 2020 thermal coal imports forecasts, Vietnam’s coal imports showed a very strong growth in the first half of 2020 and it is believe ...
Thursday, 13 August 20
INDONESIA REMAINS THE LARGEST EXPORTER OF COAL IN THE WORLD - ASSOCARBONI
According to the last Assocarboni data for 2019, Indonesia remains the largest exporter in the world. Thermal coal exports have in fact reached 456 ...
Wednesday, 12 August 20
VIETNAM WAS THE PROTAGONIST OF A SIGNIFICANT INCREASE IN COAL IMPORTS IN 2019 - ASSOCARBONI
The latest Assocarboni data for 2019 also provide a detailed picture on the trend of the global coal import.
According to Assocarbon ...
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- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- The University of Queensland
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
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