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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, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest E ...
Monday, 20 July 09
CHINAS COAL DEMAND, OUTPUT TO PICK UP IN H2 - GROUP 2
Financial24 reported that, China's coal demand is expected to gradually pick up in the second half of the year, and coal output will likely grow fa ...
Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering ...
Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months a ...
Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
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- Independent Power Producers Association of India
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- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
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- Essar Steel Hazira Ltd - India
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- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
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- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
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- International Coal Ventures Pvt Ltd - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
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- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
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- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
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