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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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Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
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- Chamber of Mines of South Africa
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- McConnell Dowell - Australia
- Independent Power Producers Association of India
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- LBH Netherlands Bv - Netherlands
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- Gujarat Electricity Regulatory Commission - India
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- Africa Commodities Group - South Africa
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- Agrawal Coal Company - India
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- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
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- Sarangani Energy Corporation, Philippines
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- PowerSource Philippines DevCo
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- The University of Queensland
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
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- Bangladesh Power Developement Board
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- South Luzon Thermal Energy Corporation
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- Alfred C Toepfer International GmbH - Germany
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- Leighton Contractors Pty Ltd - Australia
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- Singapore Mercantile Exchange
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- New Zealand Coal & Carbon
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- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
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- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
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- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
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