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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
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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- The University of Queensland
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
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