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Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
 State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining assets in Mozambique, Indonesia and Australia, as the new government firms up plans to meet the growing energy demand.
While NTPC is focussing on Mozambique and Indonesia, Coal India is all set to sign a joint venture agreement with the Mozambique government and has also shortlisted mining firms in Australia and Indonesia, according to top executives from the two companies.
Speaking to ET, Coal India chairman Partha S Bhattacharyya said: “We hope to finalise our overseas expansion deals in Mozambique, Australia and Indonesia in the next three months. Coal India, which produced over 400 million tonne of coal in the previous fiscal, plans to raise its output to 520 million tonne by 2012 and 664 million tonne in the next five years. Its output past year accounted for 85% of the nation’s production. “From overseas assets, we aim to add 50 million tonne per annum by 2020,” added Mr Bhattacharyya.
In order to meet the country’s growing energy demands, NTPC and Coal India (CIL) have been trying to acquire overseas mining assets. Coal India’s overseas venture arm Coal Videsh and its joint venture unit International Coal Ventures are used for the purpose of acquisitions abroad.
International Coal Ventures is a special purpose vehicle (SPV) created by Coal India, SAIL, NTPC, National Mineral Development Corp and others to scout for coal assets abroad. Coal India and SAIL are major stake holders in the SPV.
According to NTPC chairman RS Sharma, “We will finalise merchant bankers for our proposed acquisitions next month.” NTPC has identified two mining assets in Indonesia and two in Mozambique for which due diligence process is in progress. The public sector utility would require about 150 million tonne of coal for its power units, which is mainly supplied by CIL.
Coal India is progressing fast also. “We have received the drafts of contract and the JV agreement from the Mozambique government,” said Mr Bhattacharyya. “We’ll go ahead after examining these documents,” he added. The company’s ventures in Australia and Indonesia are in advanced stages, he said, adding that the company has shortlisted few mining firms in both the countries.”
India’s largest coal producer has also been granted two exploratory coal mining blocks in Mozambique, with reserves of 1 billion tonne. “This project would require a joint investment of around Rs 2,000 crore per 10 million tonne exploration over five years. In this, CIL’s investment share would be in accordance with the nature of JV — it could be in order of 3:1 or 1:1,” said Mr Bhattacharyya.
Further, the coal ministry has proposals to raise the overseas investment limit of CIL beyond Rs 1,000 crore for asset acquisition. The proposal would be soon placed before the cabinet committee, minister of state for coal Sriprakash Jaiswal has said.
Being a navratna company, which has to be listed by October 2011, it could invest Rs 1,000 crore for overseas assets.
Source: Economic Times (http://economictimes.indiatimes.com/News-by-Industry/NTPC-Coal-India-to-buy-mining-assets/articleshow/4694481.cms)
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Friday, 17 July 09
CHINA COAL-SPOT PRICES EDGE LOWER, SUPPLY APLENTY
China Mining reported that, spot prices in China's top coal shipping port Qinhuangdao edged lower from a week earlier, as supply grew, offsetting t ...
Friday, 17 July 09
THE NEW LAW OF MINERAL AND COAL MINING NO 4/2009 CREATE CONDUCIVE CLIMATE OF INVESTMENT IN INDONESIA
COALspot.com (Indonesia): The new Law of Mineral and Coal Mining No 4/2009, which replaces the old mining law No. 11/1967 has been signed by the Pre ...
Friday, 17 July 09
INDIA COAL TRADERS MUST OWN POWER, MINES - C&O BOSS
· Coal traders need to diversify to grow
· Coastal Energen to build first merchant power plant
· Tamil Nadu to see st ...
Friday, 17 July 09
CHINA SHENHUA ENERGY'S COAL OUTPUT SWELLS 17.6% IN H1
China Knowledge reported that, China Shenhua Energy Co Ltd, which is engaged in the coal mining, power generation and transportation businesses, on ...
Thursday, 16 July 09
CHINA ISSUES SECOND BATCH OF '09 EXPORT QUOTAS
China has issued 25 million tonnes of coal export quotas for the second batch this year, the National Development and Reform Commission said Wednesd ...
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- GAC Shipping (India) Pvt Ltd
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- Trasteel International SA, Italy
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- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
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- Salva Resources Pvt Ltd - India
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- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
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- Ministry of Mines - Canada
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- Simpson Spence & Young - Indonesia
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- Madhucon Powers Ltd - India
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- Oldendorff Carriers - Singapore
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- Australian Coal Association
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Bhatia International Limited - India
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- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
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- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
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- Carbofer General Trading SA - India
- Thai Mozambique Logistica
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- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
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- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
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- Sical Logistics Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
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- Bhushan Steel Limited - India
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- Bukit Makmur.PT - Indonesia
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- Edison Trading Spa - Italy
- Independent Power Producers Association of India
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- Meralco Power Generation, Philippines
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
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- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
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- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
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- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
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- The University of Queensland
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- White Energy Company Limited
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- Petrochimia International Co. Ltd.- Taiwan
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- Baramulti Group, Indonesia
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