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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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Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- The University of Queensland
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
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