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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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Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
Tuesday, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
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- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- SMG Consultants - Indonesia
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