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Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
 Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite attractive.
The Hindu Business Online reported that, 11 The large-size power projects announced by various Indian companies seem to have prompted a standalone Indonesian coal miner to come knocking on their doors.
Middle East Coal (MEC), a joint venture between Trimex Group and the UAE Government-owned RAK Minerals and Metals Investment, has initiated talks with these players to swap equity for coal. The company assures coal supply at $35-$40 a tonne for 15 years. Currently, coal prices are around $50-$55 a tonne.
MEC is developing a coal mine at East Kalimantan in Indonesia with proven reserves of two billion tonnes at an investment of $1 billion.
Mr Madhu Koneru, Executive Vice-Chairman, MEC, said production would begin with two million tonnes by the middle of next year and would be ramped up to 15 million tonnes by November 2011.
“We have floated a tender of $1 billion to develop a coal jetty and rail link of 130 km to transport the coal from the mine. With such huge investments, we thought of forward integration by joining hands with the promoters of large power projects,” he added.
The company wants to sell 70 per cent of its production to India and the balance to China.
On an average, about 17 million tonnes of coal are needed for a generation capacity of 5,000 MW. Coal accounts for about 60-70 per cent of the power production cost in India for producers dependent on imports.
Though companies such as Reliance Power, Tata Power and Adani Power have their own mines in Indonesia, MEC is confident of convincing Indian companies as the price it is offering is quite attractive.
It has managed to offer a lower price compared to others as the rail link being developed will result in savings of about 50 per cent of transportation costs.
The company is targeting new power projects as existing companies use coal with calorific value of 6300 Kcal/kg while MEC will produce coal with calorific value of 5300 Kcal/kg. The stripping ratio of MEC mines is 1:1 (mud to coal), while for most mines it is 8:1, said Mr Koneru.
MEC has also signed an agreement with Nalco which plans to set up a one million tonne alumina smelter at the coal mine site in Indonesia. Nalco will hold 74 per cent stake in the project while MEL will have 26 per cent equity to provide assured coal supplies. The company is in the process of negotiating the price, he said.
Source: The Hindu Business Online
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Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
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- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
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- Parliament of New Zealand
- The State Trading Corporation of India Ltd
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- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- White Energy Company Limited
- Dalmia Cement Bharat India
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- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
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- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
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- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Sindya Power Generating Company Private Ltd
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- Ministry of Finance - Indonesia
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- Madhucon Powers Ltd - India
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- Indonesian Coal Mining Association
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- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Economic Council, Georgia
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- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
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- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
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- Coal and Oil Company - UAE
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