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Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
 JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to partially meet the rising raw material need of its steel business.
"Following the board approval to acquire certain coking coal mining concessions in USA on May 3, 2010, the company completed the acquisition," the company said in filing to the Bombay Stock Exchange.
"...It is planned to produce 1 million tonnes of coal in the first year starting from September 2010 which will go up to three million tonnes in the third year of operation," it added.
Moreover, the company said it is actively looking at acquisitions of coal mines to feed its rising steel production capacity.
The acquired coal assets with resources of 123 million tonnes are located in West Virginia in the US. These mines are owned by a string of US-based companies.
"While the total coking coal requirement of the company is estimated at 5 million tonnes per annum at the current capacity (about 6 million tonnes) the proposed coking coal from US will give integration to the extent of 20 per cent in the first year and goes up further at enhanced capacity of 11 million tonnes to 35 per cent," it said.
"The integration will benefit the company immensely even after factoring the higher freight from USA to India," it added.
The company currently has an installed production capacity of a little over six million tonnes in Vijaynagar in Karnataka and is working to add another three million tones to it. It also operates a one million tonne per annum plant in Salem.
With coking coal rates hovering around $200 a tonne, up by about 50 per cent from last year's level, steel firms are actively scouting to acquire such mines abroad and cut input costs.
Source:Press Trust of India / profit.ndtv
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Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- Latin American Coal - Colombia
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- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
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- Sojitz Corporation - Japan
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- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
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- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
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- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
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- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
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- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
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- Aditya Birla Group - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
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- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
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- Planning Commission, India
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- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
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- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
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- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
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- Sindya Power Generating Company Private Ltd
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- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
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- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
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- Africa Commodities Group - South Africa
- The Treasury - Australian Government
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- Tata Chemicals Ltd - India
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- Wilmar Investment Holdings
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- Billiton Holdings Pty Ltd - Australia
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- The University of Queensland
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- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
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