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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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Thursday, 09 July 09
COAL AND OIL GROUP TO INVEST $300 MN TO BUY SHIPS AND ACQUIRE COAL MINE
Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is pl ...
Thursday, 09 July 09
NO TRADE ON AUSTRALIA'S ASX COAL FUTURES DEBUT
*ASX's deliverable thermal coal futures debut without trade
*ASX says futures could present new arbitrage opportunities
The debut of Australia ...
Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the s ...
Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange ...
Tuesday, 07 July 09
RICHARDS BAY TERMINAL COAL EXPORTS ROSE 7.2% IN JUNE
Richards Bay Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments rose 7.2 percent in June from a year earlier.
Export ...
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- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
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