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Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
 Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and construction services provider PT Truba Alam Manunggal to acquire its thermal coal mine in South Sumatra for $80-90 million, said a person with direct knowledge of the development.
The Lanco Infratech spokesman declined to comment on the development. But a person privy to the company’s plan said: “Lanco Infratech is in talks with not just one but multiple companies in Indonesia, South Africa and Australia. The company’s requirement of thermal coal is around 4 million tonnes now.”
Thermal coal is a key raw material used for power generation, a sector Lanco has interest in.
The talks, if successful, will give Lanco Infratech access to 140 million tonnes of coal reserves, which will help meet its raw material requirement for a proposed coal-based power project in Karnataka. The acquisition will also help the Indian firm optimise the overall cost of producing power.
The deal between the two is being facilitated by Hindustan Global Resources, an Australian firm engaged in exploration, mining and consulting. The firm, owned by a group of non-resident Indians, has also told Lanco Infratech that it would help the Indian company develop the mine once the deal is sealed.
In the past few years, power companies have become active in scouting for coal mines overseas due to the unavailability of good coal in India.
Early this year, GMR Infrastructure acquired Indonesian coal company PT Barasentosa Lestari to ensure coal supply for its proposed 1,500 MW power plant on the western coast. Last month, Jindal Steel and Power bought a thermal coal mine in South Africa.
A steel analyst based in Delhi, who did not wish to be quoted, feels getting access to coal mines in India is not easy. This is because there’s a lot of paper work and a long waiting period involved, and even after the tedious wait, there’s no guarantee the company will get access to the mine. Secondly, coal in India is found in forests and areas inhabited by tribes, which will be disturbed by mining.
“We have identified a few coal blocks in Indonesia and Australia that were up for sale and forwarded the proposal to Lanco. They are talking to the firms concerned,” said Hindustan Global Resources vice-president Amar Bhasin. He, however, declined to name the foreign mining entities.
Lanco Infratech owns gas, wind and hydro-based power projects across India with operational capacity of 500 MW. The company clocked a turnover of around Rs 6,000 crore last fiscal. It posted a 96% jump in its consolidated net profit to Rs 115.85 crore for the first quarter ended June 30, 2009 over the corresponding period last year.
The company is setting up one power plant each in Karnataka and Chhattisgarh of 507.5 MW and 600 MW, respectively. It is also doubling the capacity of its Andhra Pradesh power plant to 736 MW. An additional 1,400 MW capacity will be commissioned by March next year.
Hyderabad-based Lanco Infratech also has interests in engineering, procurement and construction services. The Indonesian firm, on the other hand, carries out coal mining and trading activities through its subsidiary, PT Maxima Infrastruktur.
Source: Economic Times
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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Latin American Coal - Colombia
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- Power Finance Corporation Ltd., India
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- Lanco Infratech Ltd - India
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- Jaiprakash Power Ventures ltd
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- GVK Power & Infra Limited - India
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- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
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- Economic Council, Georgia
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- Merrill Lynch Commodities Europe
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- Ministry of Transport, Egypt
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- Australian Coal Association
- Indian Energy Exchange, India
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- Petron Corporation, Philippines
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- Star Paper Mills Limited - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Minerals Council of Australia
- The University of Queensland
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- Indogreen Group - Indonesia
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- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
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- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
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- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
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- Thai Mozambique Logistica
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- Commonwealth Bank - Australia
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- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
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- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
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- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
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- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
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