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Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
 Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply shortfall that is forcing more imports, Chairman Partha Bhattacharyya said.
Faster consent will allow the company to increase output by 10 percent, above its target of 7.5 percent, from a current production of 404 million metric tons a year, Bhattacharyya said in an interview. Domestic output has failed to meet demand, particularly from power generation, requiring the nation to increase imports by an average 10 percent to 15 percent a year.
“Increasing coal production capacity is not the same as adding to power generation capacity because you need so many other things,” Bhattacharyya said in New Delhi on June 15. “Coal in India is found in forests and places that are inhabited by tribes. Mining disturbs both.”
India, the world’s second fastest-growing major economy after China, aims to add 13,000 megawatts of new capacity annually, President Pratibha Patil said in parliament on June 4. More power is needed to cut outages that last as long as 8 hours in peak summer months in the capital. The country’s surge in power use has created a gap in coal production meeting demand from generators, Bhattacharyya said.
“If power generation capacity has to increase at a rate of 7 to 8 percent, maybe it can be managed,” he said. “But if it is to increase at 20 percent, I don’t think coal for that can come from indigenous sources.”
Overseas Partners
Coal India is taking steps to boost production, he said. It will seek to join with foreign companies to develop underground mines, Bhattacharyya said. Coal India, which mines more coal than Peabody Energy Corp. and China Shenhua Energy Co., the top coal producers in the U.S. and China, was created in 1975 from nationalized companies and has concentrated on less-complicated open-cast mining.
Environmental approvals to prospect for more reserves is a process that can take as long as seven years in India, Bhattacharyya said.
The constraints of coal production are forcing companies to seek reserves overseas. Coal India is looking at importing 4 million tons of coal this year.
NTPC Ltd., India’s biggest electricity generator, plans to import 12.5 million tons. Both state-owned companies are also scouting for overseas mines. In 2007, Tata Power Co., which is building a 4,000-megawatt plant in western India, bought a 30 percent stake in two coal mining units owned by Indonesia’s PT Bumi Resources, Asia’s third-largest coal miner. The $4.14 billion plant will run on coal from the Indonesian mines.
Imports Jump
India’s coal imports will more than double to 100 million tons by 2012 from 40 million tons, estimates Kaamil Fareed, a senior trading manager at the Coal & Oil Group, which supplies coal in India and Pakistan.
Coal India also plans to revive old mines to meet power plant demand for the fuel.
The company has identified 18 old underground mines with total reserves of 1.6 billion tons to increase output. These mines were abandoned by Coal India because of difficulties such as water-logging and fire. Coal India short-listed ArcelorMittal, the world’s biggest steelmaker, and nine other companies to develop its abandoned mines, Bhattacharya said yesterday.
Coal India has favored open-cast pits over underground mines, he said, as the majority of proved reserves were at depths of less than 300 meters (984 feet). “We know that we have a shortcoming in planning underground mines because we kept on doing better and better in open cast,” Bhattacharya said. “But underground has been ignored.”
Going Underground
Coal India lost the skill of underground mining because of its preference for the open-cast method, said Ashok Dhillon, chief executive officer at Canasia Power Corp., a Canadian company that has been trying to build a power plant in northern India for 15 years amid a lack of coal supplies.
“While they are one of the largest producers in the world by sheer volume, they are not the most expert of miners,” Dhillon said. “There may be reserves that Coal India finds difficult to get at but other international mining companies would find relatively easy to mine.”
The company has identified seven coal blocks where underground mines with a capacity of between 2 million tons and 5 million tons can be set up. The planning and development of the mines will be outsourced to international companies.
Source: Bloomberg (http://www.bloomberg.com/apps/news?pid=20601087&sid=aTGLk9JaTGBw)
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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
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- Power Finance Corporation Ltd., India
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- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
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- Directorate General of MIneral and Coal - Indonesia
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- Petron Corporation, Philippines
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- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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- Coalindo Energy - Indonesia
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- Independent Power Producers Association of India
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- Economic Council, Georgia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Australian Coal Association
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- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Medco Energi Mining Internasional
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- Ministry of Finance - Indonesia
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- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
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- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
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- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- MS Steel International - UAE
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
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- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
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- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
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