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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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Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Australian Coal Association
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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