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Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
 The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in talks with Indonesia’s Sugico Group to acquire a coal mine with 1.8 billion tonnes of reserves in the south-east Asian nation.
“The Sugico Group, which has two coal properties, has offered its East Kalimantan mine to NTPC for partnership, which involves stake sale along with a long-term coal supply,” said a person aware of the development who did not want to be identified.
Sugico Group did not respond to questions emailed by Mint.
R.S. Sharma, chairman and managing director of NTPC, confirmed the talks. “We are waiting for the technical report,” he said.
The utility has already appointed Macquarie Group Ltd as the investment banker for the deal, estimated to be around $1 billion (Rs4,560 crore).
Going by recent coal deals, if the reserves are not proven, the valuation of a mine is 10-20 cents per tonne. For proven resources, it is 50-60 cents per tonne. Operational mines come with a much higher price tag of around $2-3 per tonne.
“Sugico has come up with this offer as they do not have the ability to open the mine on their own. The development of the mine will also require a lot of infrastructure development in the region, including roads, ports among others,” said the first person quoted above. “NTPC has called for technical due diligence as the entire mine area is not completely prospected.”
NTPC’s total coal requirement is around 160 million tonnes, of which about 10% is imported to cover the domestic shortfall. Fresh coal supplies are critical as the fuel powers at least 80% of its installed capacity of 31,134MW.
While NTPC projects are facing an acute coal shortage, the utility has not succeeded in plans to source either coal or gas from overseas. It recently dropped plans to acquire a South African coal-mining firm due to the high sulphur content of the reserves. The firm has cash reserves of Rs44,393 crore. It returned a net profit of Rs7,827.4 crore on revenue of Rs42,182.4 crore in 2008-09.
Indian companies scouting for coal resources overseas are competing with leading Chinese miners such as China Shenhua Energy Co. Ltd and Yanzhou Coal Mining Co. Ltd.
More and more Indian power firms are now looking towards Indonesia to meet their requirements. Apart from physical proximity, Indonesia has become the preferred destination for Indian companies because of the easy availability of coal and the local government’s willingness to invite foreign firms to invest in the country.
In an unrelated development, Essar Group said in a Thursday statement that it has signed a definitive agreement to purchase the Aries coal mines in the same region of Indonesia. Aries has an estimated resource base of 100 million tonnes of thermal coal and mineable reserves of 64 million tonnes. The transaction is expected to be completed by next month.
Source: Live Mint( Reported by Utpal Bhaskar )
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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
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- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
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