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Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
 As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech is all set to acquire Griffin Coal Mining Co, owner of thermal coal mines in Western Australia.
Lanco Resources Australia, a step-down subsidiary of Lanco, has entered into an agreement with Griffin to acquire 100% of the latter’s equity. Though the value of the agreement has not been disclosed, sources said that the deal would be between $400 million and $500 million.
“We hope the entire acquisition process would be completed in a couple of months. The valuations of the deal would be disclosed at that point,” Lanco CFO Suresh Kumar told DNA.
Lanco’s success in acquiring the company came amid competition from other industry majors, including GVK from India and three other firms from Japan and China.
“We plan to tap opportunities for the coal market in Australia by selling a part of the coal mined there and also bring the coal to India for meeting our own needs in Lanco’s power plants,” Kumar said.
Kumar said the company would meet the cost of acquisition through a bridge loan initially and then convert the debt into a long-term finance.
The Griffin mine, based out of Collie in Western Australia, currently produces over 4 million tonnes of coal per annum (mtpa). The mining tenements contain over 1.1 billion tonnes of thermal coal resources; production capacity can be ramped up to more than 15 mtpa once the evacuation infrastructure is in place.
On the issue of Lanco eyeing the coal market, Kumar said, “For now there is a market. But, it is not that we are going to stop expanding our capacity creation. We are not going to be at 15,000 mw power generation forever. As and when we expand, we will start using the coal from the mines for captive purposes”.
Lanco currently has an operating power generation capacity of 1,995 mw and another 7,962 mw is under various stages of construction. The company expects to increase operational capacity to about 4,000 mw by 2011 and 15,000 mw by March 2015.
The company would require about 15 mtpa of coal for 4,000 mw of power generation and about 60 mtpa to support 15,000 mw of power generation.
Of the 15 mtpa coal that will be needed next year, Lanco has agreements for about 75% of coal from the domestic market. It is importing the balance.
In a statement, Lanco said the Griffin coal mine is strategically located, closer to India than the mines in New South Wales and Queensland.
Source: DNA - By K V Ramana
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Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
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- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Central Java Power - Indonesia
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- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
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- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
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- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
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- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
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- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
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- Bhushan Steel Limited - India
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- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
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- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- PTC India Limited - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
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- Karbindo Abesyapradhi - Indoneisa
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
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- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
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- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
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- LBH Netherlands Bv - Netherlands
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- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
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- Toyota Tsusho Corporation, Japan
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