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Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
 Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company executive said. The mine has reserves of more than 50 million tonne of thermal coal, which is mainly used in power generation. Though the deal size could not be ascertained, mining experts feel it could be between Rs 350-400 crore depending on the quality and grade. JSPL has interests in steel, power and mining.
“We have acquired a partially operational coal mine, which has proven reserves of around 30 million tonne. If explored further, total reserves could surpass 50 million tonne,” JSPL CEO Vikrant Gujral said. The mine was acquired from South African mining firm ESF, which has more thermal coal mines in its portfolio. The transaction is likely to be funded through a mix of debt and internal accruals.
The acquired thermal coal mine will enable JSPL to secure long term raw material requirement of its proposed power plant in Chhattisgarh while providing an option to sell the surplus coal through open access at spot prices. JSPL’s team in South Africa has already started identifying areas in the mine that have not been explored yet.
Jindal Power, a wholly owned subsidiary of JSPL, is setting up a 1,000-mw thermal power plant at Raigarh in Chhattisgarh with an investment of over Rs 4,500 crore. The parent company already owns open cast coal mines at Raigarh, which have reserves of around 100 million tonne. The mines meet coal requirement of the company’s existing captive power plant in Raigarh.
Several Indian steel firms, including JSPL, have been seeking coal assets in countries such as Canada, South Africa and Indonesia for the past several years due to lack of high quality coal in India. In 2007-08, India imported about 50 million tonnes of coal. The Planning Commission has estimated that demand-supply mismatch in coal may reach 200 million tonne by 2012, increasing country’s import-dependence
Source: Economic Times
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Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
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- Trasteel International SA, Italy
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- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
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- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
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- London Commodity Brokers - England
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- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Grasim Industreis Ltd - India
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- Riau Bara Harum - Indonesia
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- Commonwealth Bank - Australia
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- Semirara Mining and Power Corporation, Philippines
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- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
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- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
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- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- White Energy Company Limited
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- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
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- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
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