Saturday, 25 Feb 2012
INDIA’S Adani Group plans to spend as much as USD 6 billion in Australia over the next three years to develop coal mines and related infrastructure and is interested in buying a majority stake in a gas company at home as the conglomerate gears up to expand operations.
Mr Ameet H Desai spokesman told a news conference that in Australia, Adani will invest at the Abbot Point coal terminal where it acquired operating rights last year, with funds also going to mining activities and building a railway line connecting the terminal with its coal mines in the Galilee basin.
Mr Desai said the group is arranging the funds through a mix of equity, debt and internal accruals.
The group plans to use coal sourced from Australia to run its own power stations and also for trading, primarily in India where a shortage of the dry fuel is hurting power generation.
Demand for coal is rising in India as many new power stations are coal based, but complicated environmental clearances and problems in land acquisition are delaying domestic mining projects.
The group started mine exploration work at the Galilee basin.
Its Adani Ports and Special Economic Zone unit spent USD 2 billion for a 99 year lease of the Abbot Point terminal in Queensland. The terminal can handle 21 million metric tonnes coal a year.
An executive said the company is refinancing most of the bridge loan taken to fund the Abbot Point deal through another loan of USD 1.8 billion. The loan will be from four Australian banks and the process should be completed in a few weeks.
Meanwhile, chairman Mr Gautam Adani said the group is interested in buying BG Group's 65% stake in India's Gujarat Gas Co. He didn't give details, but spokesman Mr Desai said the group is conducting due diligence before submitting a bid.
(sourced Theaustralian.com.au)
Showing posts with label Abbot Point export terminal. Show all posts
Showing posts with label Abbot Point export terminal. Show all posts
Saturday, February 25, 2012
Monday, February 20, 2012
Adani group plans Queensland biggest coal mine
Monday, 20 Feb 2012
An Indian conglomerate is planning to build Queensland's biggest coal mine, west of Rockhampton in the state's central region, including a new town, runway, railway and port facilities.
The Adani Group has proposed a new open cut and underground mine, mostly on the Moray Downs cattle station, about 100 kilometres north of Emerald.
The cost of construction is expected to be at least AUD 6 billion and the mine would produce about 60 million tonnes per year, with a mine life of more than a century.
If the project goes ahead, Adani said it would be the largest investment by an Indian company in Australia.
The company is also planning to establish a new town to deal with the Carmichael mine's remote location.
It said it would also build an airstrip for fly in fly out workers, along with new railway and port facilities at either Abbot Point or Hay Point.
Adani said that exports would predominantly service the Indian domestic power market.
Queensland Mining Minister Stirling Hinchliffe said that he would prefer the company to use locally sourced labour. He said that "I have given a very clear message to the companies involved, including Mr Adani directly, that we have a very high expectation about the role that Queenslanders will play in these projects.”
Mr Hinchliffe also says there is not sufficient infrastructure in central Queensland's Galilee Basin to cope with the major new mining project.
(Sourced from www.abc.net.au)
An Indian conglomerate is planning to build Queensland's biggest coal mine, west of Rockhampton in the state's central region, including a new town, runway, railway and port facilities.
The Adani Group has proposed a new open cut and underground mine, mostly on the Moray Downs cattle station, about 100 kilometres north of Emerald.
The cost of construction is expected to be at least AUD 6 billion and the mine would produce about 60 million tonnes per year, with a mine life of more than a century.
If the project goes ahead, Adani said it would be the largest investment by an Indian company in Australia.
The company is also planning to establish a new town to deal with the Carmichael mine's remote location.
It said it would also build an airstrip for fly in fly out workers, along with new railway and port facilities at either Abbot Point or Hay Point.
Adani said that exports would predominantly service the Indian domestic power market.
Queensland Mining Minister Stirling Hinchliffe said that he would prefer the company to use locally sourced labour. He said that "I have given a very clear message to the companies involved, including Mr Adani directly, that we have a very high expectation about the role that Queenslanders will play in these projects.”
Mr Hinchliffe also says there is not sufficient infrastructure in central Queensland's Galilee Basin to cope with the major new mining project.
(Sourced from www.abc.net.au)
Sunday, December 25, 2011
Rio Tinto reassigns coal haulage contracts
Sunday, 25 Dec 2011
It is reported that Rio Tinto has given Asciano a contract for coal haulage from one of its central Queensland mines that was previously split between Asciano and QR National but has allocated a new contract for extra tonnage from another mine to QR National.
Rio Tinto has been building up its Hail Creek mine inland from Mackay and in the past few years has used Asciano fully owned Pacific National to cart two million tonnes per annum while QR National has carted the remainder which has been up to 8mtpa.
But Asicano recently announced a 10 year contract under which it will cart 8mtpa of coal a year to Dalrymple Bay as well as 500,000 tonnes a year from a smaller mine, Kestrel. The contract will put Asciano closer to its goal of having 30% of the Queensland market and the company is building a new maintenance facility at Nebo inland from Mackay that is due to be operating from the middle of next year.
But while QR National lost that contract it gained a 10 year one from Rio Tinto to cart an extra 3 million tonnes per annum from the company Blair Athol/Clermont operations to Abbot Point from January 1 next year. While QR National is already carting coal from this mine to Dalrymple Bay, this new contract is for extra tonnage at the mine and it will go to Abbot Point via what was previously the missing link which was officially opened earlier this week.
This 69 kilometers piece of track links the Goonyella line running to Dalrymple Bay with the Newlands line running to Abbot Point and this sort of contract is exactly the sort of flexibility envisaged in the planning for the line. While QR National paid USD 1.1 billion for the below rail line on which the trains run it must also allow open access above rail and this contract is the second that QR National has won that uses the line, following a 10 year contract with Jellinbah Resources to haul up to 6 million tonnes per annum from its Lake Vermont mine to Abbot Point.
(sourced TheAustralian.com.au)
It is reported that Rio Tinto has given Asciano a contract for coal haulage from one of its central Queensland mines that was previously split between Asciano and QR National but has allocated a new contract for extra tonnage from another mine to QR National.
Rio Tinto has been building up its Hail Creek mine inland from Mackay and in the past few years has used Asciano fully owned Pacific National to cart two million tonnes per annum while QR National has carted the remainder which has been up to 8mtpa.
But Asicano recently announced a 10 year contract under which it will cart 8mtpa of coal a year to Dalrymple Bay as well as 500,000 tonnes a year from a smaller mine, Kestrel. The contract will put Asciano closer to its goal of having 30% of the Queensland market and the company is building a new maintenance facility at Nebo inland from Mackay that is due to be operating from the middle of next year.
But while QR National lost that contract it gained a 10 year one from Rio Tinto to cart an extra 3 million tonnes per annum from the company Blair Athol/Clermont operations to Abbot Point from January 1 next year. While QR National is already carting coal from this mine to Dalrymple Bay, this new contract is for extra tonnage at the mine and it will go to Abbot Point via what was previously the missing link which was officially opened earlier this week.
This 69 kilometers piece of track links the Goonyella line running to Dalrymple Bay with the Newlands line running to Abbot Point and this sort of contract is exactly the sort of flexibility envisaged in the planning for the line. While QR National paid USD 1.1 billion for the below rail line on which the trains run it must also allow open access above rail and this contract is the second that QR National has won that uses the line, following a 10 year contract with Jellinbah Resources to haul up to 6 million tonnes per annum from its Lake Vermont mine to Abbot Point.
(sourced TheAustralian.com.au)
Friday, November 18, 2011
Mundra Port up; bulk cargo to be growth driver
Friday, 18 Nov, 2011 Sourced:Reuters
Shares in Adani group company Mundra Port rose 3.7 percent on expectations that bulk cargo and containers handled by it to become group's key growth drivers over the next two years, an institutional sales person with a local brokerage said.
In May, Mundra Port agreed to buy Abbot Point Coal Terminal (with handling capacity of 50MMT) in Australia for $2 billion in an all-cash deal to tap into growing coal traffic in overseas market, which in analyst view was a good deal for Mundra port.
"Mundra Port handled 16.9 million tonnes of cargo in Q2 FY12 and management expects the port to handle 80 million tonnes in FY12 and 100 mn tonnes in FY13. In line with the strong growth in its cargo volumes, Mundra Port's revenue and net profit is expected to grow 39.1 percent and 16.6 percent respectively in FY12," First Global said in a note.
At 1.29 p.m., the stock was at 136.70 rupees, up 3.29 percent, bucking the trend in a weak Mumbai market, which was down 1 percent.
Shares in Adani group company Mundra Port rose 3.7 percent on expectations that bulk cargo and containers handled by it to become group's key growth drivers over the next two years, an institutional sales person with a local brokerage said.
In May, Mundra Port agreed to buy Abbot Point Coal Terminal (with handling capacity of 50MMT) in Australia for $2 billion in an all-cash deal to tap into growing coal traffic in overseas market, which in analyst view was a good deal for Mundra port.
"Mundra Port handled 16.9 million tonnes of cargo in Q2 FY12 and management expects the port to handle 80 million tonnes in FY12 and 100 mn tonnes in FY13. In line with the strong growth in its cargo volumes, Mundra Port's revenue and net profit is expected to grow 39.1 percent and 16.6 percent respectively in FY12," First Global said in a note.
At 1.29 p.m., the stock was at 136.70 rupees, up 3.29 percent, bucking the trend in a weak Mumbai market, which was down 1 percent.
Saturday, November 12, 2011
Ms Rinehart get nod for coal railway project in central Queensland
Saturday, 12 Nov 2011
Mining billionaire Ms Gina Rinehart has retained the right to build a controversial coal rail corridor in central Queensland, after the state government successfully quashed a Supreme Court challenge led by QCoal.
Rinehart’s Hancock Coal won approval from the Bligh government late last year to build a AUD 2.2 billion railway from its Alpha Coal Mine in the Galilee Basin, about 360 kilometres southwest of Mackay, to the Abbot Point coal port near Bowen.
The state government declared the Alpha Coal Rail Corridor Project as an infrastructure facility of significance because it would increase the state’s overall coal production by 35% and provide employment and business opportunities.
The state also stands to gain an additional AUD 430 million in royalties each year through the project, with Australia’s annual export revenue set to receive a AUD 1 billion boost.
The declaration meant land necessary for the project could be compulsorily acquired by the state, and then leased back to Hancock Coal on a long-term basis.
However, the corridor traverses land owned by around 40 different interest holders, including at least five other mining companies.
Five companies that hold tenements or mining leases in the area challenged the legality of the government’s approval in an application to the Supreme Court lead by QCoal against Queensland Infrastructure Minister Stirling Hinchliffe, who, with the state’s Coordinator General, was responsible for the significant project declaration.
They argued in court before Justice Martin Daubney in March that the proposed railway could not possibly be deemed significant because it terminated about 20 kilometres west of the port facility at Abbot Point.
The project hit a major hurdle in September last year, when the Supreme Court repealed the state government’s significant declaration on the grounds it was mishandled.
As a result, Hancock Coal was forced to realign the rail corridor completely outside the Bowen Basin in order to gain approval again, although this raised the opportunity for other coal companies to object.
(sourced Brisbanetimes)
Mining billionaire Ms Gina Rinehart has retained the right to build a controversial coal rail corridor in central Queensland, after the state government successfully quashed a Supreme Court challenge led by QCoal.
Rinehart’s Hancock Coal won approval from the Bligh government late last year to build a AUD 2.2 billion railway from its Alpha Coal Mine in the Galilee Basin, about 360 kilometres southwest of Mackay, to the Abbot Point coal port near Bowen.
The state government declared the Alpha Coal Rail Corridor Project as an infrastructure facility of significance because it would increase the state’s overall coal production by 35% and provide employment and business opportunities.
The state also stands to gain an additional AUD 430 million in royalties each year through the project, with Australia’s annual export revenue set to receive a AUD 1 billion boost.
The declaration meant land necessary for the project could be compulsorily acquired by the state, and then leased back to Hancock Coal on a long-term basis.
However, the corridor traverses land owned by around 40 different interest holders, including at least five other mining companies.
Five companies that hold tenements or mining leases in the area challenged the legality of the government’s approval in an application to the Supreme Court lead by QCoal against Queensland Infrastructure Minister Stirling Hinchliffe, who, with the state’s Coordinator General, was responsible for the significant project declaration.
They argued in court before Justice Martin Daubney in March that the proposed railway could not possibly be deemed significant because it terminated about 20 kilometres west of the port facility at Abbot Point.
The project hit a major hurdle in September last year, when the Supreme Court repealed the state government’s significant declaration on the grounds it was mishandled.
As a result, Hancock Coal was forced to realign the rail corridor completely outside the Bowen Basin in order to gain approval again, although this raised the opportunity for other coal companies to object.
(sourced Brisbanetimes)
Monday, July 18, 2011
Queensland coal haul offered to investors
Monday, 18 Jul 2011
Investors are being given the chance to share in Queensland’s coal bonanza. Up to four new coal terminals are planned for Abbot Point coal port, making a total of seven with a combined capacity of 120 million tonnes per year.
The expansion is worth AUD 6.2 billion and investors will have the chance to take equity stakes.
(Sourced from portstrategy)
Investors are being given the chance to share in Queensland’s coal bonanza. Up to four new coal terminals are planned for Abbot Point coal port, making a total of seven with a combined capacity of 120 million tonnes per year.
The expansion is worth AUD 6.2 billion and investors will have the chance to take equity stakes.
(Sourced from portstrategy)
Wednesday, May 4, 2011
Mundra Port wins bid for Abbot Point X50 coal terminal
Wednesday, 04 May 2011
Mundra Port and Special Economic Zone announced that the State of Queensland in Australia has declared MPSEZ as the successful bidder for long term lease of Abbot Point X50 Coal Terminal following international competitive bidding.
The international bid attracted local and foreign companies and international consortia and the bid passed through three distinct stages of selection lasting over six months. Mundra beat other international players to bag this prestigious acquisition with a bid price of about AUD 1.8 billion which had full financial closure.
The deal was signed in Brisbane, Australia between the company officials and the Queensland government. This achievement also marks the beginning of expansion of business of MPSEZL outside India and is also an acknowledgement of the robust management capability of Mundra Port in developing and operating ports anywhere in the world.
Mr Gautam Adani chairman of Adani Group informed with the acquisition of Abbot Point Coal Terminal, Adani Group controlled Mundra Port has established international credentials an efficient world class port developer and operator. We have harbored aspirations to expand globally and were in search of right business opportunity with strategic fit. Abbot Point is our contribution to India’s increasing global ambition and will boost synergy with other businesses of the group, informed.
Shares of the company gained INR 0.8 or 0.56% to trade at INR 144.60. The total volume of shares traded was 266,085 at the BSE.
The international bid attracted local and foreign companies and international consortia and the bid passed through three distinct stages of selection lasting over six months. Mundra beat other international players to bag this prestigious acquisition with a bid price of about AUD 1.8 billion which had full financial closure.
The deal was signed in Brisbane, Australia between the company officials and the Queensland government. This achievement also marks the beginning of expansion of business of MPSEZL outside India and is also an acknowledgement of the robust management capability of Mundra Port in developing and operating ports anywhere in the world.
Mr Gautam Adani chairman of Adani Group informed with the acquisition of Abbot Point Coal Terminal, Adani Group controlled Mundra Port has established international credentials an efficient world class port developer and operator. We have harbored aspirations to expand globally and were in search of right business opportunity with strategic fit. Abbot Point is our contribution to India’s increasing global ambition and will boost synergy with other businesses of the group, informed.
Shares of the company gained INR 0.8 or 0.56% to trade at INR 144.60. The total volume of shares traded was 266,085 at the BSE.
Thursday, February 3, 2011
Xstrata resumes some operations at Australia coal mines
PERTH, Wed Feb 2, 2011 10:11pm EST
PERTH Feb 3 (Reuters) - Xstrata said on Thursday that it has resumed operations at its Newlands coal mine, which was shut Wednesday night due to Cyclone Yasi, and is preparing to resume operations at its Collinsville coal mine where the cyclone knocked out power.
Collinsville mine will resume operations as soon as power is restored, an Xstrata spokesman said.
Abbot Point Coal Terminal, which is operated by Xstrata, was also affected by the power outage. (Reporting by Rebekah Kebede; Editing by Ed Davies,sourced:reuters)
PERTH Feb 3 (Reuters) - Xstrata said on Thursday that it has resumed operations at its Newlands coal mine, which was shut Wednesday night due to Cyclone Yasi, and is preparing to resume operations at its Collinsville coal mine where the cyclone knocked out power.
Collinsville mine will resume operations as soon as power is restored, an Xstrata spokesman said.
Abbot Point Coal Terminal, which is operated by Xstrata, was also affected by the power outage. (Reporting by Rebekah Kebede; Editing by Ed Davies,sourced:reuters)
Wednesday, February 2, 2011
Coal Ships Seek to Avoid Path of Queensland Cyclone
February 02, 2011 By Ben Sharples
(Bloomberg) -- Coal ships sailed away from the Queensland coast after ports and rail transport lines were closed as Tropical Cyclone Yasi approached Australia, the biggest exporter of the fuel.
At least 32 vessels have headed out to sea after Hay Point harbor and the Abbot Point export terminal were shut, according to North Queensland Bulks Ports Corp. and Dalrymple Bay Coal Terminal Pty. Yasi, a category five storm, is expected to strike the coast late today, packing winds in excess of 280 kilometers (174 miles) an hour.
At least 32 vessels have headed out to sea after Hay Point harbor and the Abbot Point export terminal were shut, according to North Queensland Bulks Ports Corp. and Dalrymple Bay Coal Terminal Pty. Yasi, a category five storm, is expected to strike the coast late today, packing winds in excess of 280 kilometers (174 miles) an hour.
“They’ll try and move away from land,” Greg Smith, general manager of operations at the Dalrymple Bay export facility, said by phone today. “Their biggest fear will be getting blown onto some form of shallow, so they’ll probably seek deeper water off the continental shelf, or try and steam as far south, where they’ll be out of reach of the winds.”
BHP Billiton Ltd., Rio Tinto Group and Xstrata Plc are among producers that export through Hay Point, the world’s biggest export harbor for steelmaking coal. Yasi was 445 kilometers east of Cairns at 10 a.m. local time, according to the Bureau of Meteorology. Category five is the highest level in the storm classification system.
About 30 ships were waiting to load at Dalrymple Bay, Smith said. The facility is one of two terminals at Hay Point, about 1,000 kilometers north of the state capital Brisbane, and has combined capacity to export 129 million tons a year.
‘Deeper Anchorages’
“For the safety of the vessels and crew, they are sent to deeper anchorages,” Mary Steele, a Brisbane-based spokeswoman for North Queensland Bulk Ports, said in an e-mailed response to questions today. The company manages Abbot Point, 25 kilometers north of the town of Bowen. Two ships were waiting to load cargoes, Steele said.
Abbot Point has one terminal with an export capacity of 21 million tons a year. It shipped 16.9 million tons and handled 224 vessels in the 12 months ended June 30, 2010, the North Queensland Bulk Ports Corp website shows. Bowen is about 1,100 kilometers north of Brisbane.
QR National Ltd., Australia’s biggest transporter of coal by rail, halted train services on the Newlands line to Abbot Point and the Goonyella network serving Hay Point, Mark Hairsine, a spokesman for the company, said yesterday.
The cyclone, which comes just weeks after the state’s capital Brisbane was hit by the worst flooding since 1974, is “likely to be more life threatening than any experienced during recent generations,” according to the bureau. It is forecast to be more severe than Cyclone Larry, which wiped out most of Australia’s banana crop and devastated sugar cane fields when it struck northern Queensland almost five years ago.
--Editors: John Viljoen, Paul Gordon.
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