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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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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Mjunction Services Limited - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
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