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Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
 "THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow, giving the subcontinent's commodity trader control of Linc's $1 billion Queensland coal asset", The Age / Business day reported.
Adani's billionaire chairman Gautam Adani met Linc's chief executive Peter Bond in Brisbane over the weekend and reached an agreement on the sale of Linc's Galilee coal tenement, believed to have reserves of 7 to 8 billion tonnes.
Sources close to the deal said Adani would invest in the project, setting a production target of over 50 million tones of coal in the next four years. Mr Adani will stay in Brisbane for the expected signing of the deal tomorrow.
The news confirms market expectations of an agreement. Shares in Linc soared nearly 18 per cent two weeks ago after Adani, a known suitor for its coal assets, announced it had raised $US850 million ($A961.3 million) via an institutional share sale.
At that point, Mr Bond did his best to hose down the fervent interest, saying Linc had ''not concluded any binding contract or finalised any material terms with any party'' and that it would ''immediately advise the market should this position change''.
That advice is expected imminently with both parties satisfied with the transaction. The Galilee tenement is one of three that Linc has had on the market. Talks on the sale of the remaining two are still under way, but deals on those is still some time away.
For Linc, the sale is a relief after it twice failed to offload non-core assets to separate Chinese parties. It frees up capital to direct into its main coal-to-liquids interests.
For Adani, the purchase fits with its strategy of building power plants throughout India to help meet rising demand for energy in Asia's third largest economy.
The coal reserves will help fuel a 13,200 megawatt power plant that it has on the drawing board in India.
Linc is one of a number of thermal coalmine owners in Australia and elsewhere that Adani has been speaking with to feed that project. Adani is one of India's most talked about success stories, having been started in 1988 by Mr Adani, who went from being a university dropout to last year being listed by Forbes magazine as India's 10th richest man with a fortune of $6.4 billion.
Adani now has coalmining and trading, power generation, oil and gas exploration and gas distribution operations.
Source: Business Day / The Age
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Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
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- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
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- Price Waterhouse Coopers - Russia
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- Eastern Coal Council - USA
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- Economic Council, Georgia
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- Parliament of New Zealand
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- Global Business Power Corporation, Philippines
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- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
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- Barasentosa Lestari - Indonesia
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- Borneo Indobara - Indonesia
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- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
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- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
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- SMG Consultants - Indonesia
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- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Toyota Tsusho Corporation, Japan
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- Sarangani Energy Corporation, Philippines
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- Bangladesh Power Developement Board
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- Energy Link Ltd, New Zealand
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- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
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- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
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