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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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Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
Monday, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
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- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
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- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
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- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
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- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
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- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
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- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
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- Thiess Contractors Indonesia
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- Savvy Resources Ltd - HongKong
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- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
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- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Planning Commission, India
- The University of Queensland
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
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