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Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
 COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of large, high quality coal resource and infrastructure development project in Queensland, Australia with an intent of furthering its strategic interests in the natural resources and energy sectors.
According to an E-Mail statement received by COALspot.com from the company, GVK Coal Developers (Singapore) Pte Limited (GVKCDPL), a step down subsidiary of GVK Natural Resources Pte Limited (GVKNRPL), (a GVK Group company) in joint venture with GVK Power and Infrastructure Limited (GVKPIL) has entered into various acquisition documents with Hancock Prospecting Pty Limited and certain of its affiliated entities (the Hancock Group) to acquire
► a shareholding up to 79% in the Alpha (‘Tad’s Corner’) and Alpha West (‘Paul’s Corner’) Coal Projects, located in the Galilee Basin in Queensland. Hancock Group retains the remainder of the shareholding;
►a 100% shareholding in the Kevin’s Corner Coal Project, located immediately adjacent to Alpha; and
► a 100% shareholding in the rail and port project connecting the above coal projects to the port of Abbot Point and Abbot Point T3 expansion project, whilst retaining some tonnage capacity for the Hancock Group
These projects are together one of the largest integrated coal development projects in the world. Some of the key highlights of the project are:
►The coal project consists of a 7.9 billion tonnes compliant with Australia’s Joint Ore Reserves Committee (JORC) resource categorisation, with 3.3 billion tonnes reserves in Measured + Indicated categories and with potential for more tonnage ;
► The infrastructure project involves the development, ownership and operation of an integrated infrastructure development consisting of a 495 km rail line and a 60 million tonnes per annum port at Abbot Point.
► At full production the three coal projects are together expected to supply about 84 million tonnes per annum to the global sea-borne coal market. The first phase of production, expected to start in 2014, envisages a total production of over 30 million tonnes per annum of high quality thermal coal.
►The coal mines will deliver a very high quality thermal coal with a Gross Calorific Value (as received) of about 5800-6000 kcal/kg and low ash and low sulphur content.
► The total investment in the first phase is estimated at approximately US$ 10 billion. This includes capital expenditure on the mines, rail line and port.
► Most of the coal from the project is intended for delivery into the Asian region as Letters of Intent for approximately 45 million tonnes per annum have already been signed or are in the process of finalisation with major utility companies in China, Japan, Korea, Taiwan and Vietnam.
► It is envisaged that GVK Energy, a subsidiary of GVKPIL will enter into a long-term coal supply contract for up to 20 million tonnes per annum.
► This is the only project in the Galilee Basin with a rail declaration, port allocation, native title and cultural heritage agreements for the entire project and Hancock is the only developer as on date to have actually mined, processed and transported coal proving the robustness of the Bankable Feasibility Study assumptions and the projects coal quality via international markets agreeing to conduct commercial scale trial burns.
► The projects are undergoing environmental assessment under the Alpha Project's EIS - the Alpha Project was declared a 'significant project requiring an EIS' under the State Development and Public Works Organisation Act 1971. The final approval is expected by the end of the year.
The consideration for the acquisition is US$ 1.26 billion to be paid in a phased manner to the Hancock Group with US$ 500 million payable now at Closing. Of the balance amounts, US$ 200 million will be paid one year from Closing and US$ 560 million will be paid on financial close for the project (anticipated to be in 2012) but in any event, no later than 3 years from Closing.
The funding for the acquisition is tied up with banks. The financing documents for funding the acquisition are being executed with the banks and the transaction is expected to Close and assets transferred in about two weeks.
About GVK
GVKPIL is one of India’s largest infrastructure developer with experience and expertise spanning areas such as Energy, Airports, Roads and Urban Infrastructure. In addition, GVK is also involved in many other businesses held by it privately including Real Estate, Hotels, Pharmaceuticals, Resources, etc. As on date GVK has invested over Rs.10,000 Crores (US$ 2.2 Billion) in various projects and has on hand projects in the pipeline of over Rs. 25,000 Crores (US$ 5.5 Billion).
For additional info on this acquisition click here
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Thursday, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
Wednesday, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
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- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
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