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Wednesday, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaikunthanathan, director of finance. The mine, located in south Sumatra, has reserves of 900 million tonne and is spread over 8,650 hectare.
“We have got all the legal clearances and have just begun construction of the jetty,” Vaikunthanathan said.
Though the company has so far acquired only 650-700 hectare, it will begin mining by November. “We will produce 4-5 lakh tonne this year and 1-1.5 million tonne next year,” he said. Madhucon has so far spent about Rs125 crore on the mine and will spend a total of Rs100-150 crore this fiscal.
The company bagged the greenfield block in 2008 for a concession period of 30 years and will pay 11.5% of revenues as royalty to the Indonesian government.
Madhucon has one other coal mine in Indonesia for which it is awaiting legal clearances.
“We will use some coal from the Sumatra block for our power project,” Vaikunthanathan said. The first phase of Madhucon’s 1,920mw project at Tamminapatnam in Andhra Pradesh will be commissioned in March.
“We have not yet estimated the reserves at the Jakarta mine and will begin mining there in three years,” he added. Madhucon had signed the memorandum of understanding (MoU) for the project last year.
Madhucon Projects had earlier this year transferred the two mines, the power project and its four toll roads to its subsidiary Madhucon Infra, which will be listed next year.
Of its four road projects, two are operational.
Source: DNA India
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Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Jaiprakash Power Ventures ltd
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- Ministry of Mines - Canada
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- Global Green Power PLC Corporation, Philippines
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- Planning Commission, India
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- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
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- Economic Council, Georgia
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- Sojitz Corporation - Japan
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- McConnell Dowell - Australia
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- Binh Thuan Hamico - Vietnam
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- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
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- Medco Energi Mining Internasional
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
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- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
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- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
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- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
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- Goldman Sachs - Singapore
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- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
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- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
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- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
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