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Joy Global, Inc. Message Board

  • harlanharp harlanharp Apr 30, 2013 7:43 AM Flag

    Consider this carefully:

     

    I will be buying while you are selling.

    Tata Power Co. (TPWR), India’s second- largest generator, is seeking coal assets in the U.S., Canada and Colombia as prices of the fuel drop amid surging shale gas supplies in North America.
    Initial purchase talks are on for several mines, Managing Director Anil Sardana said in an interview, declining to identify the assets. Acquisition prospects in South Africa, where Tata Power has scouted for more than a year, have dimmed because of infrastructure concerns, he said.
    Enlarge image
    “We just want cheap coal and there are several assets that are languishing after the shale gas boom in North America,” said Anil Sardana, managing director of Tata Power Co. “A lot of assets got abandoned because of the boom as existing buyers moved on to shale gas.” Photographer: Pankaj Nangia/Bloomberg
    “We just want cheap coal and there are several assets that are languishing after the shale gas boom in North America,” Sardana said. “A lot of assets got abandoned because of the boom as existing buyers moved on to shale gas.”
    Cheap coal may help Tata Power, led by Cyrus Mistry, to turn its biggest power plant profitable after a purchase of mines in Indonesia turned sour as the Southeast Asian nation pegged its coal to global benchmark prices. U.S. power generators have turned to gas extracted from shale rocks as hydraulic fracturing, or fracking, has made the country the world’s biggest producer

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