We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
 COALspot.com - GVK group, India’s leading infrastructure developer,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.
GVK acquires a shareholding up to 79% in the Alpha and Alpha West, a 100% shareholding in the Kevin’s Corner Coal Project, a 100% shareholding in the rail and port project. These projects are together one of the largest integrated coal development projects in the world, GVK says.
Alpha Coal Project
Alpha Coal Project is the most advanced coal project in the Galilee Basin with a JORC compliant resource of 3.6 billion tonnes, with 2.0 billion tonnes reserves in Measured + Indicated categories. Alpha has finalized its Bankable Feasibility Study (BFS) and will be developed as an open-cut mine which will produce over 30 million tonnes per annum of high grade thermal coal for export to markets within Asia. First coal production is expected by the end of 2014.
Kevin’s Corner Coal Project
Kevin’s Corner Coal Project is an advanced coal project with a JORC compliant resource of 4.3 billion tonnes, with 1.3 billion tonnes reserves in Measured + Indicated categories. Kevin’s Corner is proposed to be developed as an open cut and underground operation producing up to 30 million tonnes per annum. The development process for Kevin’s Corner will derive significant benefit from the prior development of the immediately adjacent Alpha coal project and it is expected to complete its BFS by June 2012.
Alpha West Coal Project
Alpha West Coal Project has a large JORC compliant resource of 1.8 billion tonnes (included in Alpha above) with the potential to produce 24 million tonnes per annum of high grade, export thermal coal, through underground mining operations. The current drilling program is likely to define additional tonnage.
Rail Project
Rail Project is the development of a privately owned and operated 495 km standard gauge, rail link from the Galilee basin to Abbot Point port. The rail project is expected to have the capacity to transport up to 120 million tonnes per annum of coal from the coal projects in the Galilee Basin to the port at Abbot Point. The rail project has been declared as an “Infrastructure Facility of Significance” by the Queensland state government under the State Development and Public Works Organisation Act 1971. This declaration should facilitate the acquisition of land for the rail corridor and the progress with other aspects of development process.
Abbot Point Port Project
Abbot Point Port Project will be a privately owned and operated port development project at Abbot Point with a dedicated export capacity of 60 million tonnes per annum. The project has received “Preferred Developer” status from North Queensland Bulk Ports Corporation and is ideally located to key Asian export markets, being the most northern coal port in Australia.
Initially GVKNRPL will hold 90% and GVKPIL will hold a 10% stake in the projects. GVKPIL has an option to increase it’s stake upto 49%, subject to necessary approvals from the Foreign Investment Review Board (Australia).
This acquisition offers the following benefits to GVKPIL:
►Good investment opportunity with significant value upside
► An option to enter into long term coal supply contracts, for the purchase of up to 20 million tonnes per annum (to supply around 7,500 megawatts of power generating capacity). GVKPIL and its subsidiary GVK Energy have been aggressively trying to secure fuel supply agreements in an energy deficient market for its proposed power plants. This will allow GVKPIL to secure adequate fuel supplies for GVK Energy Limited into the foreseeable future.
►An option to take a lead role in GVK Coal Infrastructure (Singapore) Pte Limited, the company that will own the rail and port projects, on mutually agreed terms with GVKNRPL.
"We are extremely excited about closing this transaction and working with Mrs Gina Rinehart on bringing these projects to fruition", said, GVK Chairman Dr. GVK Reddy. He further said, "In the last few years Mrs Rinehart has developed these Projects to the advanced stage that they are in today, which speaks volumes about her capacity and capability to develop large and complex Projects. These are truly world class coal assets in both quality and scale and we look forward to the opportunity of jointly developing these projects to their full potential. Alpha, along with the associated rail and port, is one of the most advanced integrated coal projects in the world. While this builds a strong resource business for GVK it will also significantly enhance the value to GVKPIL shareholders as we will now be able to increase the capacity of our coal power business with an assured in house supply of raw material”.
The GVK Group and the Hancock Group wish to secure long term relationship through this joint participation and in order to strengthen this relationship, the GVK Group has invited Mrs. Georgina Hope Rinehart to join the board of GVKPIL as a non-executive director.
Mrs. Georgina Hope Rinehart, Chairman, Hancock Group said, "We are very pleased at the stage our projects in Queensland have reached, being the most advanced integrated projects in the Galilee Basin in Queensland. We are delighted that this project will be to the best of our knowledge the largest project to date to be undertaken by both Australian and Indian companies. We would like to congratulate Dr GVK Reddy and family on this, the biggest deal we know of between Australia and India. We are delighted to be working with Dr GVK Reddy and G V Sanjay Reddy and GVK and we are also very pleased with this strategic alliance with a country (via GVK) that needs our coal and which should help to propel these mines to successful development and on-going operations over decades. We wish GVK all the best for this world class and very exciting project".
The immediate focus will be to progress the Alpha Coal Project and the associated port and rail projects to financial closure by 2012 and to complete the BFS for Kevin's Corner and continue drilling to increase the size of the known resource. GVK has already seen significant interest in this project from global strategic and financial investors, who wish to take an equity stake in these projects.
GVK Vice Chairman Mr. G V Sanjay Reddy said, “This will be a landmark deal in the economic co-operation between India and Australia and we are proud to be the group, together with our new friends at Hancock, that will be responsible for opening up the Galilee Basin and the creation of significant infrastructure and new jobs in Queensland. We look forward to working closely with the local, state and federal governments in promoting the economic development of Australia. Also most importantly we look forward to the opportunity of working with Mrs. Gina Rinehart as our partner in Alpha and Alpha West.”
Ernst & Young Private Limited was the sole Financial Advisor to GVK for the acquisition and Amarchand & Mangaldas & Suresh A. Shroff & Co. has acted as the Legal Advisors to GVK and Minter Ellison Lawyers has acted as Australian Legal Advisors to GVK.
For additional info on this acquisition click here
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
|
|
|
Showing 236 to 240 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Australian Coal Association
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Bangladesh Power Developement Board
|
| |
| |
|
