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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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Thursday, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
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- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
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- The State Trading Corporation of India Ltd
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- Mjunction Services Limited - India
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- Global Green Power PLC Corporation, Philippines
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- Independent Power Producers Association of India
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- Economic Council, Georgia
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- Chamber of Mines of South Africa
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- PTC India Limited - India
- Goldman Sachs - Singapore
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- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Grasim Industreis Ltd - India
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- Latin American Coal - Colombia
- Wilmar Investment Holdings
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- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
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- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
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- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Minerals Council of Australia
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- SMC Global Power, Philippines
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- The University of Queensland
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- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
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- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
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- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- MS Steel International - UAE
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- Jorong Barutama Greston.PT - Indonesia
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- Timah Investasi Mineral - Indoneisa
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- Parliament of New Zealand
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