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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-$35 a tonne, which is lower than the market price.
Source: blonnet
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
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- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Parliament of New Zealand
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- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
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- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
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- Planning Commission, India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
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- Bayan Resources Tbk. - Indonesia
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- Samtan Co., Ltd - South Korea
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- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
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- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
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- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
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