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Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
 Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-600 million (Rs 2,500-2,735 crore). Trinity is owned by private equity investment firm Denham Capital Management,
Sources with knowledge of the developments said Essar’s first major coal mine acquisition abroad would provide coking coal and thermal coal linkages for its steel mills in the US and for a power project under construction in India.
Trinity has mines in Kentucky and West Virginia in the US, with reserves of 200 million tonnes and an annual output of about 7 million tonnes.
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“Essar Power, which is implementing close to 4,650 Mw of power projects, has a 1,200-Mw power project coming up in Gujarat, dependent on imported coal”
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Sources said negotiations were at an advanced stage and the deal was likely to be closed within two weeks. An Essar Group spokesperson declined to comment.
Essar has a steel plant at Algoma in Canada, acquired in 2007 for $1.63 billion. It also has a steel mill in Minnesota in the US. Essar is expanding capacity at Minnesota Steel in two phases, with a 4.1 million tonnes per annum (mtpa) pellet plant and another 1.5 mtpa steel plant, which is expected to be completed by 2012 and 2015, respectively. It is also planning to expand capacity of Algoma Steel to 5 mtpa from 4 mtpa, said sources.
Essar Power, which is implementing close to 4,650 Mw of power projects, has a 1,200-Mw power project coming up in Gujarat, dependent on imported coal. It is setting up a Rs 4,800-crore power project at Salaya near Jamnagar in Gujarat and the imported coal-based project is slated for completion by 2011.
All major power producers are scouting for coal mines abroad, mainly in Indonesia, South Africa, Australia and even in the distant US market.
Leading power sector companies such as Tata Power, Reliance Power and GMR Energy have already acquired coal mines in Indonesia. In August 2007, Tata Power acquired a 30 per cent stake in Indonesian energy giant PT Bumi Resources by paying close to $1.3 billion. Anil Dhirubhai Ambani Group firm Reliance Power also acquired three coal mines in Indonesia, with plans to spend over $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
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- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
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- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
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- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
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- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
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- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
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- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
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- Rashtriya Ispat Nigam Limited - India
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- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
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- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Aditya Birla Group - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
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