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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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Saturday, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
...
Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Planning Commission, India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
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