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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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Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
Tuesday, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
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- Chamber of Mines of South Africa
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- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
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- Krishnapatnam Port Company Ltd. - India
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- Coal and Oil Company - UAE
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- The Treasury - Australian Government
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- PowerSource Philippines DevCo
- VISA Power Limited - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
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- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
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- IHS Mccloskey Coal Group - USA
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- White Energy Company Limited
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- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
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- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
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- Intertek Mineral Services - Indonesia
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- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
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- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
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- Central Electricity Authority - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
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- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
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