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Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
 The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual gap between supply and demand expected in the next three years.
State-owned Coal India, the world's biggest coal producer, has called for expressions of interest from potential coal mining partners by the end of August as it looks to fill unprecedented growth in local demand.
"The gap between coal demand on Coal India and envisaged domestic coal supply potential in 2011-12 is in excess of 200 million tonnes," Coal India said in the expression of interest document obtained by The Australian.
"The emerging business environment, therefore, necessitates immediate acquisition of coal resources abroad," the company said.
Australia and the US have been targeted for coking coal investment, with Indonesia and South Africa earmarked for thermal coal.
Under its 11th five-year development plan, India is aiming to provide all villages and houses below the poverty line with power and to boost economic growth to 10 per cent by 2011-12.
This is expected to push annual combined Indian demand for coking and thermal coal to more than 700 million tonnes a year.
Coal India produces about 420 million tonnes of coal a year and makes up the vast bulk of India's domestic coal production.
The expression of interest invitation says Coal India's short-term ambition is to buy equity stakes in operating mines and to tie up long-term offtake agreements to immediately start imports.
In the medium term, it is looking to take a larger stake in developing mines and new projects that would come into production in two or three years.
India's push for Australian coking coal assets comes as record Chinese demand is buoying the sector and traditional buyers are returning, though it is unclear how long this fresh demand will hold up.
India, which before China's recent surge was the second-biggest buyer of Australian coking coal after Japan, has little presence on the mining side here, which is dominated by global miners BHP Billiton, Rio Tinto, Xstrata, AngloAmerican and Peabody Energy.
ASX-listed Gujarat NRE Minerals, which is 82 per cent owned by Indian importer Gujarat NRE Coke, has two coking coal mines near Wollongong and hopes to boost production here from less than 1 million tonnes a year to 7 million tonnes a year.
Gujarat also has a hostile bid on the table for minnow Rey Resources, which has a large thermal coal resource in the Canning Basin in northern Western Australia that Rey wants to develop to feed Indian demand.
Some recent Indian estimates of the annual coal shortfall predict higher domestic production and see imports of only 50 million to 100 million tonnes a year.
However, Peabody president Rick Navarre last week said Indian officials had told him up to 200 million tonnes a year of imports would be needed over the next five years.
"Even if only half of this occurs, it is a tremendous demand increase for the seaborne markets," he said.
Source: The Australian
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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
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 as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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- Directorate Of Revenue Intelligence - India
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- Aboitiz Power Corporation - Philippines
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- London Commodity Brokers - England
- Planning Commission, India
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- Indian Energy Exchange, India
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- Toyota Tsusho Corporation, Japan
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- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
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- Africa Commodities Group - South Africa
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- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
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- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
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- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
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- Rashtriya Ispat Nigam Limited - India
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- White Energy Company Limited
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- Ministry of Finance - Indonesia
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- Central Electricity Authority - India
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- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
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- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Deloitte Consulting - India
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- SMC Global Power, Philippines
- New Zealand Coal & Carbon
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- The University of Queensland
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
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