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Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
.jpg) These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported that, after losing bids to acquire coal mines in Mozambique and Australia, International Coal and Ventures Ltd, or ICVL, a company set up by five Indian state-owned firms, is in talks with the Indonesian government to buy coal blocks in that country, a senior official of the ministry of steel said last week.
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13, said Pramod Kumar Rastogi, secretary, ministry of steel. Coking coal is one of the two important inputs for steel making, the other being iron ore. India is self-reliant in iron ore but imports almost 70% of its 25-30 mt annual coking coal requirement.
A delegation from ICVL recently returned from Indonesia after preliminary discussions with the Indonesian government. It will be followed by another delegation. Rastogi did not provide more details about the potential deal.
ICVL—funded by Steel Authority of India Ltd, NMDC Ltd, Coal India Ltd (CIL), NTPC Ltd and Rashtriya Ispat Nigam Ltd—has been trying to acquire blocks in the US, New Zealand and Canada. While CIL was allocated two coal blocks at Motaize in Mozambique in March for thermal coal, used in power plants, ICVL has not yet had any success with coking coal.
Indian steel firms have big expansion plans to meet anticipated demand from the housing, consumer goods and infrastructure sectors. “Hence, it is critical to secure supplies of coking coal by owning captive coal blocks,” Rastogi said.
Arvind Mahajan, executive director at consulting firm KPMG India Pvt. Ltd, said it is critical that a company has access to regular coal supply, both coking and thermal coal, to help minimize price fluctuations. “Though most steel makers have long term supply contracts for raw materials, these are not long term in a real sense,” he said. Most of the contracts are not long enough to hedge steel makers against price fluctuations.
Private firms have been more successful at securing long-term supplies than public sector companies. For example, Tata Steel Ltd aims to ensure secured supply of 60% of its raw materials by 2015, up from 25% now, by strengthening its holdings in overseas mines. In July, Tata Steel Global Minerals Holdings Pte Ltd, a wholly-owned subsidiary of Tata Steel, bought additional shares in Australia-based Riversdale Mining Ltd through market purchases, increasing its holding to 19.38%. It is also evaluating several mines in Brazil and Australia. On 28 August, The Economic Times reported that JSW group is in advanced talks to acquire coal mines in Swaziland in Africa.
Rastogi said the current downturn in the global steel industry makes this a good time to secure supplies before prices of coal blocks firm up as demand revives.
Source: LiveMint
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Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
Monday, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
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- European Bulk Services B.V. - Netherlands
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- Economic Council, Georgia
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- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
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- Chamber of Mines of South Africa
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- Merrill Lynch Commodities Europe
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- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
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- Eastern Energy - Thailand
- Star Paper Mills Limited - India
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- Metalloyd Limited - United Kingdom
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- Billiton Holdings Pty Ltd - Australia
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- Kepco SPC Power Corporation, Philippines
- The University of Queensland
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- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
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- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- The Treasury - Australian Government
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- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
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- Rashtriya Ispat Nigam Limited - India
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- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
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- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
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- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
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- Parliament of New Zealand
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- South Luzon Thermal Energy Corporation
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- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
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- Orica Australia Pty. Ltd.
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- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
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- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
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- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
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- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
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- The State Trading Corporation of India Ltd
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- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
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- Maharashtra Electricity Regulatory Commission - India
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