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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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Thursday, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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Showing 6026 to 6030 news of total 6871 |
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- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
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