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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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- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
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