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Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
 COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-billion supply contract with Kepco-SPC Power Corp. (KSPC).
Under the contract, MG Mining will deliver 320,000 tons of coal to KSPC’s 200-megawatt base-load power plant in Naga, Cebu, once it begins commercial operations sometime next year.
“We are very pleased to have signed this contract as a Filipino corporation, since this will help in easing the country’s dependence on imported energy sources, as well as help in conserving foreign-currency reserves,” Rufino Bomasang, SMEDC vice chairman and senior adviser, said.
He added that the agreement with KSPC is in line with the government’s thrust of promoting energy independence.
Michael Morales, SMEDC vice president for marketing, said KSPC has approved the quality of the coal after having met their specification.
Morales added that the contract is based on the delivery of coal with a burning quality of 4,300 kilocalories per kilo upon delivery.
However, he noted that MG Mining’s coal actually has higher calorific value than the KSPC requirement in the contract, as reflected in its ongoing coal deliveries to its existing customers since 2007.
MG Mining will initially be sourcing the coal from its mine in Bislig, Surigao del Sur, but also plans to offer, for KSPC’s approval, coal from the much-bigger Daguma coal reserves in Sultan Kudarat and South Cotabato once the mine there comes into full production next year.
With the specifications of coal required by the supply contract to KSPC, Morales said MG Mining is confident that even the Daguma coal will meet the requirement.
Bomasang said the Department of Energy has already granted the approval for the development and production of coal in the Daguma deposit.
Independent validation of the coal reserves indicates that the Bislig mine contains about 62 million tons of coal resources and about 30 million metric tons (MT) of minable reserves, while the company reported that Daguma has already blocked coal resources of 426 million tons.
Initial exploration and drilling have also blocked 55 million metric tons of minable reserves in 526 hectares of the 7,000-hectare coal property.
MG Mining said it expects to identify more minable reserves as it does more detailed work in the rest of the Daguma deposit.
The KSPC contract, according to MG Mining, only requires between 3.2 million MT to 6.4 million MT of minable reserve to complete the coal deliveries, over the 10-year period.
Morales said planning, preparation and development of the mines for the supply of coal to KSPC will begin this month, noting that this will entail additional investments to boost production. In 2008 the Bislig run-of-mine production rose to 200,000 tons of coal.
SMEDC said it still intends to pursue its shelved plans to undertake an initial public offering when market conditions have improved and its supply contract with KSPC will ensure that the public will then be looking at a company with a more solid revenue stream.
“The company will continue to update its registration and information statements with regulators to include positive developments such as this one, in preparation for its eventual public listing,” SMEDC said.
Source:Business Mirror
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Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
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- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- The University of Queensland
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
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