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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, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
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- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Parliament of New Zealand
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
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- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
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- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
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- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
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