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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, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
Thursday, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
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Showing 5936 to 5940 news of total 6871 |
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- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
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