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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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Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
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- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Australian Coal Association
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
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