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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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Saturday, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
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- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
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