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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 $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Xindia Steels Limited - India
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