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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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Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Parliament of New Zealand
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
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- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
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- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Sojitz Corporation - Japan
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Semirara Mining Corp, Philippines
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- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
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