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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, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- Economic Council, Georgia
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- India Bulls Power Limited - India
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- Maharashtra Electricity Regulatory Commission - India
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- Africa Commodities Group - South Africa
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- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
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- Ambuja Cements Ltd - India
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- Price Waterhouse Coopers - Russia
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- Ind-Barath Power Infra Limited - India
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- Commonwealth Bank - Australia
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- Siam City Cement - Thailand
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- Electricity Authority, New Zealand
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- Bangladesh Power Developement Board
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- Chamber of Mines of South Africa
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- Energy Link Ltd, New Zealand
- White Energy Company Limited
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- Larsen & Toubro Limited - India
- The Treasury - Australian Government
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- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
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- Standard Chartered Bank - UAE
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
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- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
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- Aditya Birla Group - India
- Ministry of Mines - Canada
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- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
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- Kumho Petrochemical, South Korea
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- Salva Resources Pvt Ltd - India
- Planning Commission, India
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- Indogreen Group - Indonesia
- VISA Power Limited - India
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- Romanian Commodities Exchange
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- The University of Queensland
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- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
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- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
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- Orica Australia Pty. Ltd.
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- Antam Resourcindo - Indonesia
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- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
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- Wilmar Investment Holdings
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- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Eastern Coal Council - USA
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- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
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