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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Parliament of New Zealand
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