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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, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
Friday, 17 July 09
CHINA COAL-SPOT PRICES EDGE LOWER, SUPPLY APLENTY
China Mining reported that, spot prices in China's top coal shipping port Qinhuangdao edged lower from a week earlier, as supply grew, offsetting t ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
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