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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, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
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