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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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Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
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