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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
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