Monday, 24 Oct 2011
It is reported that Korea Southern Power has purchased 65,000 tonnes of thermal coal of Indonesian origin through a tender.
The utility paid USD 79.90 per tonne FOB for the 4,500 kilocalories per kilogram coal for November 2011 to January 2012 delivery.
Source coalportal
Showing posts with label Korean. Show all posts
Showing posts with label Korean. Show all posts
Monday, October 24, 2011
Tuesday, October 4, 2011
ASSOCHAM against long-term iron ore export contracts by NMDC
Tuesday, 04 Oct 2011
ASSOCHAM has opposed the move of signing long-term export contract of iron ore with Japan and Korea by the National Mineral Development Corporation particularly in the context of current crisis.
In a representation to the central government, the chamber has stated that we should not be allocating the national resources for meeting the requirements of steel makers abroad without fulfilling the domestic requirements.
Mr D.S. Rawat secretary general of ASSOCHAM said that 40 million tonnes of iron ore production has already been reduced from the total iron ore production of the country subsequent to the orders of Supreme Court to ban the mining activity in Bellary, Chitradurga and Tumkur district in the State of Karnataka.
He further said “This has created acute shortage of iron ore and led to stoppage of almost all the sponge iron plant in Karnataka and neighboring state and most of the iron and steel plants are operating only at 30% to 50% capacity utilization and are on the verge of complete closure.”
ASSOCHAM has opposed the move of signing long-term export contract of iron ore with Japan and Korea by the National Mineral Development Corporation particularly in the context of current crisis.
In a representation to the central government, the chamber has stated that we should not be allocating the national resources for meeting the requirements of steel makers abroad without fulfilling the domestic requirements.
Mr D.S. Rawat secretary general of ASSOCHAM said that 40 million tonnes of iron ore production has already been reduced from the total iron ore production of the country subsequent to the orders of Supreme Court to ban the mining activity in Bellary, Chitradurga and Tumkur district in the State of Karnataka.
He further said “This has created acute shortage of iron ore and led to stoppage of almost all the sponge iron plant in Karnataka and neighboring state and most of the iron and steel plants are operating only at 30% to 50% capacity utilization and are on the verge of complete closure.”
Monday, March 28, 2011
Jindals, Reddys may jointly bid for Hancock's assets
Mon Mar28, 2011
Tags : CNPC, Sinopec Group, CNOOC,
BANGALORE/MUMBAI: The Jindals and the Reddys of the GVK Group could join hands with a third Indian company to offer a combined bid for the coal assets of Australia's Hancock Coal, which is valued at more than $2.7 billion, as a worldwide race for thermal coal spikes valuations of the mineral. The Jindals' JSW Energy has suggested to its Indian counterparts, including the Aditya Birla group , on forming a consortium similar to the strategy typically adopted by Chinese companies, to pool finances and present a formidable bid for large global assets.
"We have suggested this option and are awaiting their reaction," said a person directly involved in the negotiations. The valuations of the (Hancock) mines has become very expensive and it would be a good idea to put in a joint bid," he added.
The Aditya Birla Group, which is looking at the mines through its unlisted subsidiary Essel Mining, didn't comment on the consortium proposal. GVK Power vice- chairman Sanjay Reddy said that although his firm is keen on owning coal mines in Australia and Indonesia, he didn't elaborate on the bids. Indian state-run companies have already formed such a consortium, the International Coal Ventures Ltd that looks at bidding for coal and ore assets.
Hancock Coal is selling Kevin's Corner and Alpha Coal, both located in the Queensland province, as it expects strong valuations for the assets which are estimated to have 7.9 billion tonnes of thermal coal, according to the company's website. Thermal coal is used by power producers and although India has large deposits of the mineral, a high ash content and inadequate production by state-run major Coal India, is forcing Indian utilities to scout overseas for the coal. So far, Australia, Indonesia and countries in Africa have been common destinations for Indian power firms.
Korean firm Korya Electric and Power Company and two other Chinese bidders are also in the fray for Hancock, said the people who are aware of the negotiations with the Australian company. In the past, Chinese oil giants, including CNPC, Sinopec Group and CNOOC, have shared strengths to bid for large oil assets which are typically valued at more than $10 billion. The firms have pooled finances and technical skills and manpower to present an attractive package for the shareholders of target companies.
"While it's a convenient method to acquire large assets, varied management styles of the companies in the consortium could prove to be a handicap," said a person from a financial services company.
A delegation from Hancock is scheduled to visit India early next month for final discussions with Indian companies, said one of the persons cited earlier. The delegation is also scheduled to visit China after the India trip. Hancock does not own a captive port facility to transport coal which could have prompted several bidders to withdraw from indicative bids. The costs of building an infrastructure, like a port, would almost as that of the mine. (sourced:Economic Times)
"We have suggested this option and are awaiting their reaction," said a person directly involved in the negotiations. The valuations of the (Hancock) mines has become very expensive and it would be a good idea to put in a joint bid," he added.
The Aditya Birla Group, which is looking at the mines through its unlisted subsidiary Essel Mining, didn't comment on the consortium proposal. GVK Power vice- chairman Sanjay Reddy said that although his firm is keen on owning coal mines in Australia and Indonesia, he didn't elaborate on the bids. Indian state-run companies have already formed such a consortium, the International Coal Ventures Ltd that looks at bidding for coal and ore assets.
Hancock Coal is selling Kevin's Corner and Alpha Coal, both located in the Queensland province, as it expects strong valuations for the assets which are estimated to have 7.9 billion tonnes of thermal coal, according to the company's website. Thermal coal is used by power producers and although India has large deposits of the mineral, a high ash content and inadequate production by state-run major Coal India, is forcing Indian utilities to scout overseas for the coal. So far, Australia, Indonesia and countries in Africa have been common destinations for Indian power firms.
Korean firm Korya Electric and Power Company and two other Chinese bidders are also in the fray for Hancock, said the people who are aware of the negotiations with the Australian company. In the past, Chinese oil giants, including CNPC, Sinopec Group and CNOOC, have shared strengths to bid for large oil assets which are typically valued at more than $10 billion. The firms have pooled finances and technical skills and manpower to present an attractive package for the shareholders of target companies.
"While it's a convenient method to acquire large assets, varied management styles of the companies in the consortium could prove to be a handicap," said a person from a financial services company.
A delegation from Hancock is scheduled to visit India early next month for final discussions with Indian companies, said one of the persons cited earlier. The delegation is also scheduled to visit China after the India trip. Hancock does not own a captive port facility to transport coal which could have prompted several bidders to withdraw from indicative bids. The costs of building an infrastructure, like a port, would almost as that of the mine. (sourced:Economic Times)
Tags : CNPC, Sinopec Group, CNOOC,
Monday, February 21, 2011
SAIL in talks for tie up for CRGO and CRNGO technology
Monday, 21 Feb 2011
PTI reported that Steel Authority of India is at advanced level of talks with 2 to 3 Japanese and Korean firms to produce electrical steels CRGO and CRNO.
As per report, SAIL would like to have a technological partner but is also open to the options of entering into JV agreement with the prospective partner.
Mr CS Verma chairman of SAIL said that the current domestic market size for CRGO products would be USD 1.5 billion to USD 2 billion and the future growth is linked with the spurt in the power sector.
No Indian steel maker has the technology to produce CRGO steel.
(Sourced from PTI)
PTI reported that Steel Authority of India is at advanced level of talks with 2 to 3 Japanese and Korean firms to produce electrical steels CRGO and CRNO.
As per report, SAIL would like to have a technological partner but is also open to the options of entering into JV agreement with the prospective partner.
Mr CS Verma chairman of SAIL said that the current domestic market size for CRGO products would be USD 1.5 billion to USD 2 billion and the future growth is linked with the spurt in the power sector.
No Indian steel maker has the technology to produce CRGO steel.
(Sourced from PTI)
Subscribe to:
Posts (Atom)
Posts
