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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, 25 July 09
HUANENG EYES MAJORITY STAKE IN PT BERAU COAL
CCTV reported that, China's largest publicly traded power company has submitted a bid for controlling stake in Indonesia's fifth largest coal mine ...
Saturday, 25 July 09
ADANI POWER TO IMPORT COAL FOR MUNDRA PLANT
BL reported that more than 50% of the coal requirement for Adani Power’s 4,620 MW Mundra plant will have to be imported from Indonesia though ...
Friday, 24 July 09
INDONESIAN COAL NEWS - UPDATE
Income from tax slow
Since the economic crisis in October 2008 until now, tax from the general mining sector is slow. According to the Director Gene ...
Friday, 24 July 09
S.AFRICA JAN-JUNE EXPORTS TO ASIA AROUND 1.4 MLN T
* China takes 140-150,000 tonnes
* S.Korea imports zero
* Hong Kong utilites buy S.African coal
South African coal exports to Asia excluding India a ...
Friday, 24 July 09
BIG ADARO SHAREHOLDERS CREATE HOLDING COMPANY
The nation’s second-largest coal producer, PT Adaro Energy, said on Thursday that five key shareholders had merged their holdings in the compan ...
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- Parry Sugars Refinery, India
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- Bayan Resources Tbk. - Indonesia
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- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
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- White Energy Company Limited
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- Eastern Coal Council - USA
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- CNBM International Corporation - China
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- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Indika Energy - Indonesia
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- PTC India Limited - India
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- Heidelberg Cement - Germany
- Minerals Council of Australia
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- VISA Power Limited - India
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- Australian Commodity Traders Exchange
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- PowerSource Philippines DevCo
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- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
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- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
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- Parliament of New Zealand
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
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- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
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- The Treasury - Australian Government
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
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- Merrill Lynch Commodities Europe
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