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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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Wednesday, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
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- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
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- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
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- Wood Mackenzie - Singapore
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- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Planning Commission, India
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- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
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- ASAPP Information Group - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Parliament of New Zealand
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- Electricity Authority, New Zealand
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- Leighton Contractors Pty Ltd - Australia
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- Billiton Holdings Pty Ltd - Australia
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- Chamber of Mines of South Africa
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- Eastern Coal Council - USA
- Thiess Contractors Indonesia
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- Global Business Power Corporation, Philippines
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- Medco Energi Mining Internasional
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- Altura Mining Limited, Indonesia
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- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
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- Grasim Industreis Ltd - India
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- PTC India Limited - India
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- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
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- Coastal Gujarat Power Limited - India
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- Electricity Generating Authority of Thailand
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- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
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- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
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- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
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- Sojitz Corporation - Japan
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- ICICI Bank Limited - India
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- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
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- Siam City Cement PLC, Thailand
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- Petron Corporation, Philippines
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