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Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS


Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mine is estimated to contain within itself 7-8 billion tonnes of coal reserves. This has been informed by the Adani Enterprises in a press meet and as per sources this has been a major deal for the Indian Inc.

Adani Enterprises has acquired the coal mine for its subsidiary, the Singapore based Adani Global.

From the $1 billion, Adani is supposed to part from the first tranche of $435 million in the following few days.

The remaining payment is slated to be made over the next few months.

Adani Enterprises has planned to invest largely in the project in order to produce a target of over 50 million tonnes of coal in the following 3-4 years. 

However, the ultimate status of the deal is expected to be announced within mid-August of this year and Adani Enterprises has refused to say anything regarding the development of this project so far.
Source: Top News



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Recent News

Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
 Korea Western Power Company Limited has finalized around 1.2 million tonnes of  Indonesian origin of coal last week. According to  K ...


Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...


Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...


Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...


Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...


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