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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 $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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Showing 5966 to 5970 news of total 6871 |
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- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
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