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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 $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expe ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
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