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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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Tuesday, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
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- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- VISA Power Limited - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
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