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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
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