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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 $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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Showing 5966 to 5970 news of total 6871 |
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- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Australian Coal Association
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
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