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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, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
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