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