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Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
 “We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the condition of anonymity.
The mines are located in West Virginia, a district known for its coal reserves, the official said. Incidentally, United Coal, the company JSW Steel wanted to buy two years ago, is in the same area.
However, DNA Money could not ascertain the total reserves in the mines or the price JSW will pay for the acquisitions. The steelmaker said in November last year that it was looking to spend $500 million on acquisition of coal mines.
Seshagiri Rao, the joint managing director and group chief financial officer could not be reached for comment despite repeated calls and messages.
The official, however, said the reserves are lower than what United Coal had. United Coal, with its mines in West Virginia and Kentucky in the US, had total reserves of 165 million tonne.
JSW Steel was looking to pay around $1.5-2 billion for the company, but later retracted as it found the valuations expensive.
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"JSW Steel was looking to pay around $1.5-2 billion for the mines that had total reserves of 165 million tonne, but later retracted as it found the valuations expensive”
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The company has been scouting for coal assets to acquire across the globe, from the US to Australia, Indonesia to South Africa. It has been importing coking coal from Australia and aims to secure 50% of coal supplies through captive sources, including global buyouts.
JSW Steel, which produced around 7 million tonne of steel last fiscal, will hit the 10 million tonne mark once its ongoing expansion gets over by the next fiscal-end. The increase in production will require use of an additional 5 million tonne coking coal.
The company had in 2006 bought a coal mine in Mozambique with reserves of 200 million tonne. However, after exploration and detailed study of the coal, JSW found that the coal had high ash content, making it useless for steelmaking.
“We are looking at alternative sites, as the Mozambique project is commercially unviable,” Sajjan Jindal, vice chairman and managing director, JSW Steel said in October last year.
The steelmaker has said that the Mozambique mines will be sold to its recently listed sister company JSW Energy. “Fortunately or unfortunately, around 80% of the coal is in the form of thermal coal at Mozambique. We will probably get it valued and sell to JSW Energy. The remaining 20% will be used by our steel plants,” Jindal said in December last year.
Source: DNA India
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Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
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Showing 5991 to 5995 news of total 6871 |
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- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Bhatia International Limited - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
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