We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
|
|
|
Showing 6641 to 6645 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- PTC India Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- The University of Queensland
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
|
| |
| |
|
