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Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
 Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-600 million (Rs 2,500-2,735 crore). Trinity is owned by private equity investment firm Denham Capital Management,
Sources with knowledge of the developments said Essar’s first major coal mine acquisition abroad would provide coking coal and thermal coal linkages for its steel mills in the US and for a power project under construction in India.
Trinity has mines in Kentucky and West Virginia in the US, with reserves of 200 million tonnes and an annual output of about 7 million tonnes.
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“Essar Power, which is implementing close to 4,650 Mw of power projects, has a 1,200-Mw power project coming up in Gujarat, dependent on imported coal”
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Sources said negotiations were at an advanced stage and the deal was likely to be closed within two weeks. An Essar Group spokesperson declined to comment.
Essar has a steel plant at Algoma in Canada, acquired in 2007 for $1.63 billion. It also has a steel mill in Minnesota in the US. Essar is expanding capacity at Minnesota Steel in two phases, with a 4.1 million tonnes per annum (mtpa) pellet plant and another 1.5 mtpa steel plant, which is expected to be completed by 2012 and 2015, respectively. It is also planning to expand capacity of Algoma Steel to 5 mtpa from 4 mtpa, said sources.
Essar Power, which is implementing close to 4,650 Mw of power projects, has a 1,200-Mw power project coming up in Gujarat, dependent on imported coal. It is setting up a Rs 4,800-crore power project at Salaya near Jamnagar in Gujarat and the imported coal-based project is slated for completion by 2011.
All major power producers are scouting for coal mines abroad, mainly in Indonesia, South Africa, Australia and even in the distant US market.
Leading power sector companies such as Tata Power, Reliance Power and GMR Energy have already acquired coal mines in Indonesia. In August 2007, Tata Power acquired a 30 per cent stake in Indonesian energy giant PT Bumi Resources by paying close to $1.3 billion. Anil Dhirubhai Ambani Group firm Reliance Power also acquired three coal mines in Indonesia, with plans to spend over $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
Tuesday, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
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- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
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