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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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Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
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- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
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- Eastern Coal Council - USA
- Baramulti Group, Indonesia
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- Romanian Commodities Exchange
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- Australian Commodity Traders Exchange
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- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
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- Port Waratah Coal Services - Australia
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- Dalmia Cement Bharat India
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- Minerals Council of Australia
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- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
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- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
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- Bhatia International Limited - India
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- South Luzon Thermal Energy Corporation
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- Directorate Of Revenue Intelligence - India
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- Indogreen Group - Indonesia
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- London Commodity Brokers - England
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- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
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- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
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- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- ASAPP Information Group - India
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- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
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- Price Waterhouse Coopers - Russia
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- GAC Shipping (India) Pvt Ltd
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- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
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- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
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- San Jose City I Power Corp, Philippines
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