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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, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- Africa Commodities Group - South Africa
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- Ministry of Finance - Indonesia
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- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
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- Bhoruka Overseas - Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
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- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
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- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
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- Directorate General of MIneral and Coal - Indonesia
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- Eastern Energy - Thailand
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- Romanian Commodities Exchange
- White Energy Company Limited
- Electricity Authority, New Zealand
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- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
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- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
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- Vedanta Resources Plc - India
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- Australian Commodity Traders Exchange
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- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Economic Council, Georgia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
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- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
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- Wilmar Investment Holdings
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- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
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- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
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- Australian Coal Association
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- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
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- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
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