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Thursday, 16 July 09
CIL KEEN ON JOINT VENTURES
 * Targets to raise production by 10 m tonnes by 2012
* Plans to tap reserves of abandoned mines
The Hindu, an Indian news paper reported that, the public sector Coal India Ltd (CIL) is keen to enter into joint ventures for starting mining activities in the U.S., Australia, South Africa and Indonesia. It has sought expressions of interest (EoIs) in this respect saying that it would like strategic partnerships for pursuing joint business initiatives in these countries.
Confirming this, a CIL official said that the company was looking for partnerships with major overseas stakeholders in mining, as carrying out tasks like exploration would be difficult in an overseas location. “We need someone with mining expertise and a property. We will add to that our own expertise and resources to set up a venture,” he said adding that the objective was to leverage core competencies of CIL for tapping overseas opportunities.
CIL is looking for tie-ups in the U.S. for accessing coking coal. In Australia too it is the coking coal reserves which attract CIL, while in South Africa, the reserves are of both coking and non-coking coal. In Indonesia, the opportunities lie in thermal coal. “CIL’s interest is in either an operational mine or even a greenfield project and the target product is metallurgical coal and high-grade thermal coal,” the official said.
Coal shortages, especially that of coking coal, have been chronic in India and according to the Minister of State for Coal Shriparakash Jaiswal, India’s coal consumption will reach 604.3 million tonnes in March 2010 leaving a shortfall of 70 million tonnes. Domestic coal production (of which CIL accounts for about 80 per cent) is estimated at 534 million tonnes by 2009-10.
However, given the fact that under the new coal distribution policy, CIL has been entrusted with the responsibility of meeting he country’s coal demand, if necessary through imports, Coal Videsh, the overseas investment arm of the PSU, sees overseas joint ventures as an avenue for augmenting CIL’s production.
It has set a goal of augmenting its production in this manner to the extent of 10 million tonnes by 2012 and by 50 million tonnes by 2020. CIL has already won the concession rights for two mine blocks in Mozambique and it is now in the process of forming a joint venture company to operationalise this venture. The two blocks together have one billion tonne reserve of coking and non-coking coal. It may also be mentioned here that CIL is also in the process of finalising its plans to sign up with overseas and domestic companies for tapping the reserves of mines which have been lying abandoned for various reasons for long.
Source: The Hindu
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Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
Wednesday, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
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- Price Waterhouse Coopers - Russia
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- Thiess Contractors Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
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- Power Finance Corporation Ltd., India
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- Chamber of Mines of South Africa
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- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
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- White Energy Company Limited
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- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
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- Alfred C Toepfer International GmbH - Germany
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- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
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- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
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- Electricity Authority, New Zealand
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- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
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- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
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- Sindya Power Generating Company Private Ltd
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- The State Trading Corporation of India Ltd
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- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
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- Sarangani Energy Corporation, Philippines
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- Planning Commission, India
- Independent Power Producers Association of India
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- Kumho Petrochemical, South Korea
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- Interocean Group of Companies - India
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- Australian Commodity Traders Exchange
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- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Anglo American - United Kingdom
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- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
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- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
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- Marubeni Corporation - India
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- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
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- Economic Council, Georgia
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- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
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- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
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- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
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- New Zealand Coal & Carbon
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- Bhoruka Overseas - Indonesia
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- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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