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Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
 The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimated cost of about $350 million (around Rs 1,680 crore). The move is part of the group’s efforts to secure coal supplies for its forthcoming power projects and is also in line with the recent steps taken by the Indian government to allow domestic companies to buy mines overseas, said people familiar with the development.
The JSW Group, which also owns India’s third-largest steel company, has been carrying out a detailed geological exploration in the Emaswati Colliery (Mpaka Mine) and Maloma anthracite mine, in the eastern part of Swaziland, which has a major chunk of the country’s over one billion tonne coal reserves.
JSW had earlier signed an MoU with the government of Swaziland for detailed exploration of coal reserves in the African country. A final approval for prospecting and mining rights will be granted by the mineral management board of Swaziland.
JSW’s move is also a part of the recent efforts made by the government of Swaziland that had invited global partners to build a coal-fired thermal power station in Mpaka, which has coal reserves of about 150 million tonne.
Apart from being used in the generation of thermal power, coal is also vital for steelmaking. It can be an important move by the Jindals to reduce their production cost. JSW officials declined to comment. JSW Energy, part of the JSW Group, has scheduled an initial public offer to raise Rs 3,000 crore that will part-finance power projects with a total capacity of 3,000 mw. The group said it plans to have total power producing capacity of 11,400 mw by 2015.
Strong demand from steelmakers, especially from Chinese mills, has led coal prices to rebound from a 35% decline last year, with international agencies saying that coal futures for September delivery at Rotterdam have risen 39%. This has enabled most companies to scout for global raw material assets before they rise further.
In fact, on Thursday, state-owned Coal India said it will invest about $1.5 billion (about Rs 7,200 crore) to acquire coal mines overseas to tackle tight supplies as India plans to almost double power capacity. India could likely see shortage of about 228 million tonne by March 2012.
ET had recently reported that JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options to acquire coal mines in South Africa and Australia.
JSW signed a coal sales purchase contract in January with PT Sungai Belati Coal of Indonesia for the supply of coal. The coal shipments are scheduled to start from June 2011 with the supply of one million tonne. The quantity of coal to be bought by JSW in every delivery year shall progressively increase to 8 million tonne by 2014.
Source: The Economic Times
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Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- Makarim & Taira - Indonesia
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- Economic Council, Georgia
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- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Parliament of New Zealand
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
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- Planning Commission, India
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- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
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- Bhatia International Limited - India
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- Mintek Dendrill Indonesia
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- Merrill Lynch Commodities Europe
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- Eastern Coal Council - USA
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- Australian Coal Association
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- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
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- London Commodity Brokers - England
- Minerals Council of Australia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
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- Barasentosa Lestari - Indonesia
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- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
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- Altura Mining Limited, Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
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- Leighton Contractors Pty Ltd - Australia
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- Petron Corporation, Philippines
- The Treasury - Australian Government
- Xindia Steels Limited - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
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- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
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- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
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- Tamil Nadu electricity Board
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- Karbindo Abesyapradhi - Indoneisa
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- IEA Clean Coal Centre - UK
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
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- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
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- Australian Commodity Traders Exchange
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- Wood Mackenzie - Singapore
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- Indian Oil Corporation Limited
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