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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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Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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Showing 6011 to 6015 news of total 6871 |
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- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
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