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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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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
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