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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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Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
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- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
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