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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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Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
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- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
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- Petron Corporation, Philippines
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- White Energy Company Limited
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- Bulk Trading Sa - Switzerland
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- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
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- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
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- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
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- Medco Energi Mining Internasional
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- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
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- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
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- Latin American Coal - Colombia
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- PTC India Limited - India
- Economic Council, Georgia
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- Ministry of Transport, Egypt
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Australian Coal Association
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
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