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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
 Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
Now coal miners are beginning to move to pick up stakes in power plants for better returns on the raw material they produce.
Minerals Energy Commodities (MEC), a 50:50 joint venture between Indian industrial minerals producer Trimex Group and the UAE Government-owned RAK Minerals and Metals, which is setting up a coal project in Indonesia, is close to firming up deals with private mega-power projects in India involving swapping coal for equity.
MEC has been talking with some of the major players in the power sector, including Tata Power, JSW Energy and Reliance Power, to push through its business model involving trading of coal in exchange for equity in the power projects.
“There has been a very encouraging response from the power projects in India. We will be concluding such coal-equity swap deals with three major power projects that are in the construction phase. We hope to make an announcement in the next couple of months,” Mr Madhu Koneru, Executive Vice-Chairman of MEC Holdings, told Business Line.
While most major players in the power sector such as Tata Power, JSW and Reliance, are in the process of acquiring coal assets abroad, this will be the first time they will sell equity in exchange for coal.
“This is a win-win situation for both. While we will get better returns on the coal we produce if we have equity in power projects, and power producers can benefit from assured raw material supplies,” Mr Koneru said.
Indonesia project
MEC is setting up a 30-million-tonne coal mining project in Indonesia at a cost of $2 billion, which is expected to start production from 2012.
The joint venture company has decided to earmark half of this production to supply to power projects in India through the equity-coal swap deal, with the rest to be sold in the open market.
“The 15 mt of coal will be sufficient to feed power plants with a total capacity of 4-5,000 MW. We will thus be signing this deal with three power projects with capacity of over 1,000 MW each,” he said.
The deals had taken some time for finalisation as MEC had to do elaborate due diligence to finalise the quantum of equity to compensate for the quantum of coal to be supplied.
What actually yielded encouraging response from the power players is that MEC is willing to supply the coal at production rates, ranging from $30-$35 a tonne, which is lower than the market price.
Source: blonnet
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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
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- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
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- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Minerals Council of Australia
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- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Indian Oil Corporation Limited
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- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
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- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
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- Jaiprakash Power Ventures ltd
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- Indogreen Group - Indonesia
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- Samtan Co., Ltd - South Korea
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- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
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- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
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- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
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- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
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- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Planning Commission, India
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- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
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- Price Waterhouse Coopers - Russia
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