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