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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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Thursday, 04 February 10
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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- Orica Mining Services - Indonesia
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- OPG Power Generation Pvt Ltd - India
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- LBH Netherlands Bv - Netherlands
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- Global Coal Blending Company Limited - Australia
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- Siam City Cement PLC, Thailand
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- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
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- CNBM International Corporation - China
- Economic Council, Georgia
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- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
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- Central Electricity Authority - India
- New Zealand Coal & Carbon
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- Directorate General of MIneral and Coal - Indonesia
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- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
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- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
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- Bulk Trading Sa - Switzerland
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- Thiess Contractors Indonesia
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- Maheswari Brothers Coal Limited - India
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- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
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- Agrawal Coal Company - India
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- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
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