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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, 14 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 11%; SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 11 ...
Monday, 13 July 09
EXPORT COAL PRODUCTION FROM MOOIPLAATS COULD START IN NOVEMBER
Mining Weekly reported that, South Africa-focused emerging miner Coal of Africa (CoAL) has completed a revised mining layout for its Mooiplaats ...
Monday, 13 July 09
NAPOCOR AWARDS 195,000 T COAL TO INDONESIAN FIRMS
ABC-CBN News reported that, Philippine electricity producer National Power Corp (Napocor) has awarded 195,000 tons in coal supply contracts to two I ...
Monday, 13 July 09
PAKISTAN TO IMPORT ABOUT 2.4 MILLION TONS OF INDONESIAN COAL AND 1.6 MILLION TON OF SOUTH AFRICAN COAL WITHIN NEXT 12 MONTHS
COALspot.com (Pakistan) : Pakistan has exported well over 12 million tons of cement while local sales have dropped a bit with the result 33 million to ...
Monday, 13 July 09
COAL SECTOR IN VIETNAM INCREASE THE TARGET 43 MILLION TONNES THIS YEAR
Asian Mining Stock reported that, there was a change in a very good Coal Mining Industries Group (TKV) that Vietnam has decided to increase coa ...
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- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
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