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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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Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
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- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Aditya Birla Group - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
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