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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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- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
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