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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 $1.7 billion in the current fiscal.
The company is now producing 430 million tonnes of coal, which is expected to reach 700 million tonnes over the next 10 years, Bhattacharyya said.
CIL has also secured exploration licences for two blocks in Mozambique and expects to start work there soon.
“We are expecting one billion tonnes reserves from these blocks,” he said.
Bhattacharyya also spoke about the company’s corporate social responsibilities. “As we are expanding our coal mining operations, its our responsibility to grow more trees than we have cut. We are passionately pursuing the afforestation programme.”
The company is adopting clean technology to reduce the impact of mining on the environment, he said.
Source: Business News - INAS
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Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Singapore Mercantile Exchange
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- Eastern Coal Council - USA
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- Australian Coal Association
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- Romanian Commodities Exchange
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- Sical Logistics Limited - India
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- Wood Mackenzie - Singapore
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- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
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- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Planning Commission, India
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- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indonesian Coal Mining Association
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- White Energy Company Limited
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- Electricity Authority, New Zealand
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- Siam City Cement - Thailand
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- IHS Mccloskey Coal Group - USA
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- Parliament of New Zealand
- SMG Consultants - Indonesia
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- Carbofer General Trading SA - India
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- Chamber of Mines of South Africa
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- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
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- Indian Oil Corporation Limited
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- Price Waterhouse Coopers - Russia
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- McConnell Dowell - Australia
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- Siam City Cement PLC, Thailand
- Minerals Council of Australia
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