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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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Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
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- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
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