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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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Thursday, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
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