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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- The University of Queensland
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
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