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Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
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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Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
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- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
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- Indian Energy Exchange, India
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- Makarim & Taira - Indonesia
- Economic Council, Georgia
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- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
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- New Zealand Coal & Carbon
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- Chamber of Mines of South Africa
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- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
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- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
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- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
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- Kapuas Tunggal Persada - Indonesia
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- San Jose City I Power Corp, Philippines
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
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- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
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- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Meralco Power Generation, Philippines
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- SN Aboitiz Power Inc, Philippines
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- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
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- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Trasteel International SA, Italy
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