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Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
 "THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow, giving the subcontinent's commodity trader control of Linc's $1 billion Queensland coal asset", The Age / Business day reported.
Adani's billionaire chairman Gautam Adani met Linc's chief executive Peter Bond in Brisbane over the weekend and reached an agreement on the sale of Linc's Galilee coal tenement, believed to have reserves of 7 to 8 billion tonnes.
Sources close to the deal said Adani would invest in the project, setting a production target of over 50 million tones of coal in the next four years. Mr Adani will stay in Brisbane for the expected signing of the deal tomorrow.
The news confirms market expectations of an agreement. Shares in Linc soared nearly 18 per cent two weeks ago after Adani, a known suitor for its coal assets, announced it had raised $US850 million ($A961.3 million) via an institutional share sale.
At that point, Mr Bond did his best to hose down the fervent interest, saying Linc had ''not concluded any binding contract or finalised any material terms with any party'' and that it would ''immediately advise the market should this position change''.
That advice is expected imminently with both parties satisfied with the transaction. The Galilee tenement is one of three that Linc has had on the market. Talks on the sale of the remaining two are still under way, but deals on those is still some time away.
For Linc, the sale is a relief after it twice failed to offload non-core assets to separate Chinese parties. It frees up capital to direct into its main coal-to-liquids interests.
For Adani, the purchase fits with its strategy of building power plants throughout India to help meet rising demand for energy in Asia's third largest economy.
The coal reserves will help fuel a 13,200 megawatt power plant that it has on the drawing board in India.
Linc is one of a number of thermal coalmine owners in Australia and elsewhere that Adani has been speaking with to feed that project. Adani is one of India's most talked about success stories, having been started in 1988 by Mr Adani, who went from being a university dropout to last year being listed by Forbes magazine as India's 10th richest man with a fortune of $6.4 billion.
Adani now has coalmining and trading, power generation, oil and gas exploration and gas distribution operations.
Source: Business Day / The Age
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Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
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- Coalindo Energy - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
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- Meralco Power Generation, Philippines
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- Trasteel International SA, Italy
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- Bangladesh Power Developement Board
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- Indogreen Group - Indonesia
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- White Energy Company Limited
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- Eastern Coal Council - USA
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- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Indian Energy Exchange, India
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- Ministry of Finance - Indonesia
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- Star Paper Mills Limited - India
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- MS Steel International - UAE
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- Planning Commission, India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
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- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Australian Coal Association
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
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- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
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- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
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- Sindya Power Generating Company Private Ltd
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- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
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- PTC India Limited - India
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- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
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- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
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- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
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