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Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a producer of high quality bituminous coal and Anthracite from mines in the Klipriver coalfield, near Dundee, in the KwaZulu Natal province of South Africa has signed a three year offtake agreement for 1.75 million tonnes (total) with Vitol S.A. ("Vitol"), a leading energy trading company, according to Forbescoal website.
Vitol will be purchasing thermal coal from the Slater Coal properties at market prices.
Forbes Coal's website further said, cash flow from this offtake agreement will fund the continued ramping up of production at its two operating mines – Magdalena and Aviemore. The agreement is initially for three years and will support the previously announced production expansion plans.
Forbes Coal intends to transport the coal to the Navitrade Coal Terminal in Richards Bay using its increased rail transport and capacity with Transnet Freight Rail and Grindrod Terminals. Grindrod Terminals provides certain logistical, handling and stockpiling services to shippers in connection with the shipment of bulk cargoes. As per the press release of December 7, 2010, Grindrod Terminals shall provide Forbes Coal with export coal capacity in the Terminal of 600,000 metric tonnes in 2011, 720,000 metric tonnes in 2012 and 960,000 metric tonnes in 2013.
"This milestone for Forbes Coal will support our planned expansion into the coal export market. We have seen a steady increase in export prices over the past 12 months, driven by an increase in demand from India. Together with our increased export capacity at Richard's Bay, the Company is on track to establish itself as a mid-tier Southern African coal company." said Stephan Theron, President and Chief Executive Officer of Forbes Coal.
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Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Thai Mozambique Logistica
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- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
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- Merrill Lynch Commodities Europe
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- Bharathi Cement Corporation - India
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- Independent Power Producers Association of India
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- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
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- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
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- Ambuja Cements Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Planning Commission, India
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- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Parliament of New Zealand
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- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
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- Ministry of Finance - Indonesia
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- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
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- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
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- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Aditya Birla Group - India
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