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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, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
Tuesday, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
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- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Parliament of New Zealand
- White Energy Company Limited
- PTC India Limited - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
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