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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-$35 a tonne, which is lower than the market price.
Source: blonnet
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
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