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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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Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
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- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
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- Indian Energy Exchange, India
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- India Bulls Power Limited - India
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- Singapore Mercantile Exchange
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- Carbofer General Trading SA - India
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- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
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- London Commodity Brokers - England
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- Energy Development Corp, Philippines
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- Metalloyd Limited - United Kingdom
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- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
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- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
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- Indian Oil Corporation Limited
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- Therma Luzon, Inc, Philippines
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- Economic Council, Georgia
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- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
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- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
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- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
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- Directorate Of Revenue Intelligence - India
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- Power Finance Corporation Ltd., India
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- Sojitz Corporation - Japan
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- Indonesian Coal Mining Association
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- Bulk Trading Sa - Switzerland
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- VISA Power Limited - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
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