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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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Tuesday, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW
Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...
Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of total exported quan ...
Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters ...
Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
COALspot.com (China): Press Release - Aiming at unveiling the growth area of IGCC polygeneration, IGCC Outlook China 2010 is planned to be hel ...
Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
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- Rashtriya Ispat Nigam Limited - India
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- Attock Cement Pakistan Limited
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- Posco Energy - South Korea
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- Binh Thuan Hamico - Vietnam
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- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
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- Metalloyd Limited - United Kingdom
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- Latin American Coal - Colombia
- Economic Council, Georgia
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- Petron Corporation, Philippines
- GMR Energy Limited - India
- The Treasury - Australian Government
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- Global Coal Blending Company Limited - Australia
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- Indian Oil Corporation Limited
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- Australian Coal Association
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- Orica Australia Pty. Ltd.
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- Eastern Energy - Thailand
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- Sojitz Corporation - Japan
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- Merrill Lynch Commodities Europe
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- Ministry of Finance - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
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- Sical Logistics Limited - India
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- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
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- Pendopo Energi Batubara - Indonesia
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- Samtan Co., Ltd - South Korea
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- White Energy Company Limited
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- Videocon Industries ltd - India
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- Therma Luzon, Inc, Philippines
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- Alfred C Toepfer International GmbH - Germany
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