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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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Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
Monday, 17 August 09
COAL EXPORTS CONTINUE DESPITE SHORTAGE
Vietnam News reported that, Viet Nam is exporting more coal despite a warning from experts that the country could face a shortage of this fossil fue ...
Monday, 17 August 09
S.KOREA JULY COAL IMPORTS UP TO 8.97 MLN T
* Imports of heating coal in July up 3.7 percent on year
* LNG imports in July fall for seventh straight month
Alibaba reorted that, South Kore ...
Monday, 17 August 09
COAL INDIA PLANS A PRICE HIKE OF 11%
With the state-run CIL mining 84% of the coal produced in the country, an 11% increase will push up inflation by around 0.16%, the company said
L ...
Monday, 17 August 09
BANPU SEES INDONESIAN MINE OUTPUT UP 10 PCT IN 2010
Reuters reported that, Thailand's top coal miner, Banpu, said on Monday it expected coal output from its Indonesian mines to rise 10 percent to abo ...
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- Indian Energy Exchange, India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
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