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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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Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- VISA Power Limited - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Parliament of New Zealand
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
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