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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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- Planning Commission, India
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- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
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- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
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- Straits Asia Resources Limited - Singapore
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- Australian Coal Association
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- Electricity Authority, New Zealand
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- GMR Energy Limited - India
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- Gujarat Electricity Regulatory Commission - India
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- Samtan Co., Ltd - South Korea
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- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
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- Port Waratah Coal Services - Australia
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- Kaltim Prima Coal - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Electricity Generating Authority of Thailand
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- CIMB Investment Bank - Malaysia
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- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
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- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
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- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Merrill Lynch Commodities Europe
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- White Energy Company Limited
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
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- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
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- Central Electricity Authority - India
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- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- The University of Queensland
- Australian Commodity Traders Exchange
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- Ministry of Transport, Egypt
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- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
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- Kalimantan Lumbung Energi - Indonesia
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