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Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
 “We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the condition of anonymity.
The mines are located in West Virginia, a district known for its coal reserves, the official said. Incidentally, United Coal, the company JSW Steel wanted to buy two years ago, is in the same area.
However, DNA Money could not ascertain the total reserves in the mines or the price JSW will pay for the acquisitions. The steelmaker said in November last year that it was looking to spend $500 million on acquisition of coal mines.
Seshagiri Rao, the joint managing director and group chief financial officer could not be reached for comment despite repeated calls and messages.
The official, however, said the reserves are lower than what United Coal had. United Coal, with its mines in West Virginia and Kentucky in the US, had total reserves of 165 million tonne.
JSW Steel was looking to pay around $1.5-2 billion for the company, but later retracted as it found the valuations expensive.
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"JSW Steel was looking to pay around $1.5-2 billion for the mines that had total reserves of 165 million tonne, but later retracted as it found the valuations expensive”
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The company has been scouting for coal assets to acquire across the globe, from the US to Australia, Indonesia to South Africa. It has been importing coking coal from Australia and aims to secure 50% of coal supplies through captive sources, including global buyouts.
JSW Steel, which produced around 7 million tonne of steel last fiscal, will hit the 10 million tonne mark once its ongoing expansion gets over by the next fiscal-end. The increase in production will require use of an additional 5 million tonne coking coal.
The company had in 2006 bought a coal mine in Mozambique with reserves of 200 million tonne. However, after exploration and detailed study of the coal, JSW found that the coal had high ash content, making it useless for steelmaking.
“We are looking at alternative sites, as the Mozambique project is commercially unviable,” Sajjan Jindal, vice chairman and managing director, JSW Steel said in October last year.
The steelmaker has said that the Mozambique mines will be sold to its recently listed sister company JSW Energy. “Fortunately or unfortunately, around 80% of the coal is in the form of thermal coal at Mozambique. We will probably get it valued and sell to JSW Energy. The remaining 20% will be used by our steel plants,” Jindal said in December last year.
Source: DNA India
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Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
Thursday, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
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Showing 5926 to 5930 news of total 6871 |
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- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Economic Council, Georgia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
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