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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- White Energy Company Limited
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
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