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Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
 DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel’s port in Visakhapatnam.
Partha Bhattacharya, chairman, CIL, said the company will look to go in for joint venture or acquire parts of existing ports rather than setting up its own.
“We are more or less close to signing a deal with Vizag Steel to start with. RIL/RINL has moved out of Vizag Steel so that space has been offered to us and we have accepted it for our imports. Compensation needs to be discussed. A 4-5 million tonne capacity would be available to us at any point in time,” he said.
CIL has started talks with other ports, including Gangavaram, Dhamra, Krishnapattanam, and Kandla. DNA had reported on September 30, 2009 that CIL is looking at tying up with ports.
CIL is also looking at coal-bed methane and coal mine gasification projects, though Bhattacharya said the water contamination problem was a concern.
“As long as there is no definite solution (to the water contamination problem) we can’t risk it because we don’t have coal in barren places. But if there is any technology evolving anywhere in the world, we will take it. We are seriously looking at underground coal gasification projects,” he said.
Meanwhile, a CIL delegation will be visiting US-based Peabody Energy to close a deal that will give the Indian firm a stake in four Australian coal mines along with other overseas assets.
“We are going to tie up with them for certain amount of production for a ten year period. I believe they are ramping up to somewhere around 16-17 million tonne in four- five years and they remain at that level… that is the offer. Our participation would be in the equity stake with this offtake agreement and at a price substantially lower than the spot prices,” Bhattacharya said.
However, the deal with Rio Tinto in Australia seems a bit far off. “Rio Tinto was not really a subscriber to our theory. They are growing fairly fast and are looking at the export market. They are talking about a mutually beneficial joint venture, which we will look at. Primarily we want to bring coal faster into the country at clearly distinctly advantageous terms than spot imports. We will look at Rio later.”
But CIL’s surface-based coal gasification project with RCF and GAIL India is still in the pipeline, Bhattacharya asserted. A senior CIL official had earlier said that the coal block allotted for the same project had been given back.
“I wouldn’t say it has not taken off… Actually GAIL is doing the studies now. That gas will be converted into ammonium nitrate and urea. Ammonium nitrate is a feedstock for our explosives. Gail is the nodal agency for this and they were supposed to get a study done and technology feed and that’s on. The minister for fertilisers was very keen and he took a meeting on that. The project is very much on course.”
CIL is also undertaking ventilation air methane projects for which a tender has been floated. “It is a very interesting project. The exhaust air from gassy mines contains high amounts of methane, which is pushed into the atmosphere. This gas is 21 times more potent than carbon di oxide. If we can do something to absorb that methane, and it would be a CBM technology, it will earn us carbon credits.”
Source: DNA India (Reported By: Pooja Sarkar)
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Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
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- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
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- Jorong Barutama Greston.PT - Indonesia
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- McConnell Dowell - Australia
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- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
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- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
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- Standard Chartered Bank - UAE
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- Economic Council, Georgia
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- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
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- Siam City Cement PLC, Thailand
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- The State Trading Corporation of India Ltd
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- Bulk Trading Sa - Switzerland
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- SMC Global Power, Philippines
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- Indonesian Coal Mining Association
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- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- The University of Queensland
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- GN Power Mariveles Coal Plant, Philippines
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- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
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- Ministry of Mines - Canada
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- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
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- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
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- Sojitz Corporation - Japan
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- Metalloyd Limited - United Kingdom
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- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
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- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
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- New Zealand Coal & Carbon
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- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
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- The Treasury - Australian Government
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- Electricity Generating Authority of Thailand
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- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
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- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
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