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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, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
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- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- The University of Queensland
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Central Java Power - Indonesia
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