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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
 Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Terminal appears to have reached resolution, with an agreement to be ratified shortly, participants said on Thursday.
At the heart of the dispute was the allocation of limited coal deliveries for the Phase 5 expansion, which lifts RBCT’s export capacity to 91 million tonnes a year. However, the rail utility, Transnet Freight Rail, has capacity for just 65 million tonnes and any allocation to newcomers would have to come out of existing members tonnages.
Existing members of RBCT had to give up a portion of their rail allocation to ensure the producers earmarked to use Phase 5 could get coal to the port, a process which proved difficult to conclude. It is one that had to be reached though to ensure black economic empowerment miners had access to relatively lucrative export markets.
“The settlement is a compromise on the part of both parties and like all good compromises neither party is particularly happy,” said Trevor McGiddy, CEO of SDCT, which has spent R480m towards the R1.2bn Phase 5 expansion that adds 15 million tonnes to annual RBCT capacity.
At full export capacity of 91 million tonnes, the SDCT group, which comprises Exxaro Resources, E/Enterprises and Anker Coal, would have an allocation of six million tonnes out of the 15 million tonnes, which would enable them to recoup their investment in the expansion.
“Of course TFR is not at that 91 million tonnes level so our allocation in the short term until they get there is dependent on their performance,” McGiddy said.
If TFR manages to rail 65 million tonnes, the allocation to the participants in Phase 5 would be around four million tonnes, of which SDCT would have 1.75 million tonnes. “We’ve all had to bite the bullet on this one,” McGiddy said. “The financial model looks significantly different from when we first started the project.”
TFR railed 61 million tonnes in 2009 and expectations it will lift this to 65 million tonnes this year.
Work has progressed on TFR raising haulage capacity to 85 million tonnes as the first step towards reaching 91 million tonnes. “There is a strong cooperation between the coal industry and TFR,” he said.
The industry hope is that TFR will reach that 85 million tonnes level within four years.
Raymond Chirwa, CEO of RBCT, said in a recent presentation that of the 91 million tonnes, BEE companies would have a dedicated allocation of nearly 29 million tonnes or 32%.
The Phase 5 expansion, which is about a year behind schedule, will be commissioned on 1 May 2010.
Chirwa told Miningmx all the issues that had delayed the commissioning, including computer control systems, had been resolved and the expansion was good to go.
Source: Miningmx
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Tuesday, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
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- Barasentosa Lestari - Indonesia
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- Ministry of Mines - Canada
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
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- Directorate Of Revenue Intelligence - India
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- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
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- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
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- Metalloyd Limited - United Kingdom
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- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
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- Indonesian Coal Mining Association
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- Meenaskhi Energy Private Limited - India
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- Vijayanagar Sugar Pvt Ltd - India
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- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
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- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
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- International Coal Ventures Pvt Ltd - India
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- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
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- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
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- Orica Australia Pty. Ltd.
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- Renaissance Capital - South Africa
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- Electricity Generating Authority of Thailand
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- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Globalindo Alam Lestari - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
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- Power Finance Corporation Ltd., India
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- Parliament of New Zealand
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- PowerSource Philippines DevCo
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- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
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- Energy Link Ltd, New Zealand
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