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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, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
Thursday, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
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Showing 5961 to 5965 news of total 6871 |
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- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- White Energy Company Limited
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
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