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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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Saturday, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued ...
Saturday, 23 May 09
INDONESIA'S COAL OUTPUT SLUMPS IN Q1 ON LOWER PRICES, FALLING DEMAND - THE JAKARTA GLOBE
Falling international coal prices, bad weather and other problems cut first-quarter coal output by 50 percent to 30 million tons against an initial ...
Saturday, 23 May 09
INDIAN GOVT PLANS TO BUILD FIVE COAL-BASED POWER PLANTS AT $3.5B TO END CRISIS - THE FINANCIAL EXPRESS
The government has started working on a plan to set up five coal-based power plants with combined capacity of 2,500 mega watt to solve the country' ...
Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER
National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with ...
Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
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- Price Waterhouse Coopers - Russia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
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- Indogreen Group - Indonesia
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- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- ASAPP Information Group - India
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- Alfred C Toepfer International GmbH - Germany
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- Petrochimia International Co. Ltd.- Taiwan
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- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
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- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
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- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
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- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
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- Semirara Mining and Power Corporation, Philippines
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- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Minerals Council of Australia
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- Altura Mining Limited, Indonesia
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- The University of Queensland
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- Sojitz Corporation - Japan
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- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
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- Independent Power Producers Association of India
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- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
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- Wilmar Investment Holdings
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- Singapore Mercantile Exchange
- ICICI Bank Limited - India
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- Siam City Cement PLC, Thailand
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- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
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- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Parliament of New Zealand
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- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
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