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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 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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Showing 6026 to 6030 news of total 6871 |
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- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
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