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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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Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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Showing 6011 to 6015 news of total 6871 |
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- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Minerals Council of Australia
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