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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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Friday, 06 March 09
CHURCHILL STARTS REVERSE DRILLING AT INDONESIAN COAL PROJECT
Miningweekly reported that, Aim-listed minerals explorer Churchill Mining on Thursday stated that reverse drilling at its East Kutai coal project (E ...
Thursday, 05 March 09
UAE FUND PLANS INDONESIA COAL RAIL LINK
News.alibaba reported that, A United Arab Emirates' fund signed a memorandum of understanding on Monday (2 March 2009) with an Indonesian prov ...
Thursday, 05 March 09
CHINA COAL-PRICES LITTLE CHANGED DESPITE PLUNGE ABROAD
China's spot coal prices were little changed from a week earlier, despite the sharp fall in the international market, and demand for coal remains s ...
Thursday, 05 March 09
RAK TO BUILD COAL FIRED POWER STATION
The National Ras al Khaimah, which is developing a coal mine in Indonesia, will build a coal-fired power plant in the emirate in the next two years ...
Wednesday, 04 March 09
COAL: GLOBAL DEMAND WEAKENS
The Jakarta Post reported that, While coal prices were stickier on the way down compared to other commodities like oil, the Newcastle price now sugg ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Planning Commission, India
- Bhushan Steel Limited - India
- The University of Queensland
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
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