1.0 Australia
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ANNEXURES
The Adani Group inked an agreement to develop
$1.65-billion rail and port project in Indonesia. The
agreement signed with the regional government of
Sumatra Selatan, Indonesia and PT Bukit Asam Tbk, a
coal mining company of Government of Indonesia
will involve construction of a 250-km of railway-line
and port infrastructure needed for transportation and
ship loading of up to 60 mmtpa (million metric tonne
per annum ) of coal.
The Essar Group has signed a agreement to purchase
Aries coal mines, located in the Kutai region of East
Kalimantan in Indonesia to an estimated resource base
of 100 million tonne of thermal coal and mineable
reserves of 64 million tonne.. The high-quality
bituminous coal has gross calorific value (GCV) of
6,000 with low ash and low moisture and is suitable
for power plants.
4.0 Indonesia
JSW Steel has acquired eight mines over an area of
about 1,200 hectares in the Atacama region in
northern Chile at a total cost of $52 million through
its wholly-owned Dutch subsidiary for the exploration
and exploitation of magnetite iron ore deposits.
3.0 Chille
Hindalco has acquired Canada’s leading producer of
aluminium products Novelis. Following the
transaction, Hindalco, with Novelis, will be the world’s
largest aluminum rolling company, one of the biggest
producers of primary aluminum in Asia, and India’s
leading copper producer.
In June 2007, Essar Steel Holdings Ltd. acquired
Algoma Steel Inc. (Ontario, Canada. Algoma offered
Essar a strong platform for growth in the North
American market. Over the next three to five years
Essar plans to significantly enhance Algoma’s valuation
through strategic capital expenditure initiatives aimed
at increasing overall output to in excess of four million
tons per annum.
Vedanta Resources have acquired Sterlite Gold, a gold
mining company for about ` 285 crore. Vedanta, until
now, was active in mining and manufacture of nonferrous metals like copper, aluminium and zinc but the
company is now also doing business in precious metals.
ANNEXURE 7.5
Important Indian Investment abroad
Aditya Birla Minerals Limited (ABML) has 100 per cent
holding in Birla Nifty Pty Limited and Birla Mt. Gordon
Pty Limited located in Western Australia and
Queensland, respectively. ABML is one of the largest
pure copper companies listed on the Australian Stock
Exchange.
Adani group flagship company, Adani Enterprise (AEL),
had acquired the coal mines of Australia’s Linc Energy
in a cash and royalty deal worth A$ 2.9 billion (`
12,220.6 crore).
Tata Steel has been operating in Australia through Tata
BlueScope Steel (its joint venture with Australia’s
BlueScope Steel.) The company produces crude steel
and basic steel products.
International Coal Ventures Ltd. (ICVL), a special
purpose vehicle of five state owned undertakings:
SAIL, Coal India Ltd., NMDC, NTPC and Rashtriya
Ispat Nigam Ltd. have reserves (220 Million approx.)
Coal in Queensland, Australia.
Apart from these the other companies who have
presence in Australia, either through Joint ventures or
on their own are Bhushan Steel, Gujrat NRE coke, Tata
power and Sterlite.
Lanco Infratech acquired Griffin Coal Mining Company
in Australia through its Australian subsidiary Lanco
Resources Australia and concluded a binding
agreement with Griffin Energy Group and Carpenter
Mine Management Holdings. The mine produces
over 4 million tonnes per annum (mtpa) of coal, which
can be ramped up to over 15 mtpa in the near term.
2.0 Canada
Tata Steel has entered into a letter of intent (LoI) to
increase its stake in Canadian mining company New
Millennium Capital Corp to 27.4 per cent, a move
aimed at buffering its European operations from the
volatility in raw material prices to some extent.
Arcelor Mittal Canada is one of leading suppliers of
iron ore to steel markets around the world, generating
some 40 per cent of Canada’s total production. As
both a mining and primary processing company, it
operates extensive facilities in the Province of Quebec.
Annual Report 2010-2011
172
ANNEXURES
5.0 Iran
Tata group is operating in Iran by the name TATA WEST
ASIA FZE. The group has two chrome ore mines i.e.
the Graft chrome ore mine near Sabzevar in which
Tata has majority shareholdings and the Chahpanjsar
Chrome ore mine near Birjand which is wholly owned
by the Tata.
Essar Group owns two iron ore mines in Yazd and
one lime stone mine in Bandar Abbas under the name
of their local company AMPRC.
6.0 Mozambique
Jindal Resources (Mozambique) Ltd, a subsidiary of
Jindal group, had been awarded a coal Block-2 in
Moatize district of Tete province of Mozambique for
prospecting and exploration over an area of 1,480
hectares, estimated to possess reserves of around 150
million tonnes.
Jindal Metal and Mining, another subsidiary of Jindal
group, had entered into a joint venture agreement
with a Mozambique-based company for prospecting,
exploration and mining of coal. This block is estimated
to contain thermal coal reserves of around 300 million
tonnes.
CIL was awarded two coal acreages in Dec 2009 in
the Maotize region in Mozambique having an
estimated reserve of one billion tonne of coking and
thermal coal. CIL plans to invest $400 million in the
next five years if the exploration in its two coal blocks
in Mozambique yield results.
7.0 Namibia
Sterlite Industries (India) Limited (“Sterlite”) acquired
the Skorpion Zinc Mine (“Skorpion”) in Namibia from
Anglo American plc (“Anglo American”) on 10 May
2010. Anglo Zinc comprises the 100 per cent owned
Skorpion mine in Namibia, the 100 per cent owned
Lisheen mine in Ireland and the 74 per cent owned
Black Mountain Mines, which includes the Black
Mountain mine and Gamsberg project in South Africa.
8.0 Singapore
Tata Steel, had completed the 100 per cent acquisition
of Singapore-based NatSteel’s steel business for 486.4
million Singaporean dollars on August 16, 2004. .As
part of the transaction, all steel assets of NatSteel in
Ministry of Mines
Singapore, Malaysia, Thailand, Vietnam, the Philippines,
Australia and China (except Changzhou Wujin NatSteel)
have been transferred to NatSteel Asia Pvt. Ltd.
9.0 South Africa
Tata Steel KZN (Pty) is having a R670 million
Ferrochrome plant at Richards Bay in KwaZulu-Natal,
South Africa.
JSW Energy Ltd of India signed a Memorandum of
Understanding (MoU) to acquire a 43% interest in
Indian Ocean Mining (Pty) Ltd, a coal mining
company, from Osho Venture FZCO.
10.0 Thailand
Tata Steel completed the acquisition of 67.11 percent
of shares in Thailand-based Millennium Steel Public
Co for about $170 millions an annual capacity of 1.7
million tons. The company, which produces long
products for construction industry, and engineering
steel for the auto industry, owns three plants in
Thailand.
11.0 US
Essar group company, Essar Global, has acquired USbased Trinity Coal Partners LLC for USD 600-million
for an access to around 200 million tonnes of reserves
— equally split between metallurgical coal and steam
coal — from its mines in Kentucky and West Virginia.
Trinity Coal will give the Essar group Trinity produces
7 million tonnes of coal annually and expects to
increase this to 10 million tonnes per year.
Sterlite acquired ASARCO, American copper smelting
and refining company having a smelting capaictity
of .25mtpa and 3 copper mines with a total reserve
of 5mt in copper. deal with no dilution. ASARCO is
the third largest copper mining and smelting company
in the US. ASARCO has 3 open pit copper mines with
around 5mt copper in contained reserves and a copper
smelter The plant at Hayden, Arizona also has a
capacity to produce 0.9mtpa of sulphuric acid.
JSW Steel has completed the acquisition of coking
coal assets in Western Virginia, US having total
resources of 123 million tones for a total consideration
of $100 million. The reserves are estimated to be
around 45 million tones on part of the area where
drilling was already done.