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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, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
...
Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
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Showing 6071 to 6075 news of total 6871 |
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- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- The University of Queensland
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
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