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Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said here Friday.
The government, which holds 100 percent stake in CIL, will divest 10 percent through an initial public offer (IPO) of 63.1 crore (63 million) shares, Bhattacharyya told reporters on the sidelines of the 20th Asian Corporate Conference organised by industry lobby CII.
The company will reserve 6.3 crore (63 million) shares for its employees.
“We hope to file the draft red herring prospectus for the issue with Securities Exchange Board of India by mid-June post our annual general meeting,” Bhattacharyya said.
Bhattacharyya added that the company’s net profit would be around $1.7 billion in the current fiscal.
The company is now producing 430 million tonnes of coal, which is expected to reach 700 million tonnes over the next 10 years, Bhattacharyya said.
CIL has also secured exploration licences for two blocks in Mozambique and expects to start work there soon.
“We are expecting one billion tonnes reserves from these blocks,” he said.
Bhattacharyya also spoke about the company’s corporate social responsibilities. “As we are expanding our coal mining operations, its our responsibility to grow more trees than we have cut. We are passionately pursuing the afforestation programme.”
The company is adopting clean technology to reduce the impact of mining on the environment, he said.
Source: Business News - INAS
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Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Samtan Co., Ltd - South Korea
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- Romanian Commodities Exchange
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- Parliament of New Zealand
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- Coal and Oil Company - UAE
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- GMR Energy Limited - India
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- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
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- McConnell Dowell - Australia
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- Australian Commodity Traders Exchange
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- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
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- ASAPP Information Group - India
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- Attock Cement Pakistan Limited
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- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
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- Wilmar Investment Holdings
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Eastern Coal Council - USA
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