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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, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
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