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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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Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
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- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
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- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
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- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
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- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
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- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
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- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
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- Wood Mackenzie - Singapore
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- Aboitiz Power Corporation - Philippines
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- CNBM International Corporation - China
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- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
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- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Australian Coal Association
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- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
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- Gujarat Sidhee Cement - India
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- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
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- South Luzon Thermal Energy Corporation
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- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
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- Economic Council, Georgia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
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- Heidelberg Cement - Germany
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
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