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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, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
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- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
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