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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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Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Economic Council, Georgia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
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