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Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
 Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of them, who have responded to expression of interests (EoI) for strategic partnership with it. The idea is to import coal through this strategic partnership at a price which would be way cheaper than imported coal. In India, consumers either buy coal from the volatile spot market or through one-year contracts.
The coal major will primarily focus on either forming JV companies or collaborating with foreign entities who have coal assets in their respective home country. It is open to investing an aggregate of $1.5 billion in these ventures. CIL had invited expression of interests to form joint ventures or collaborate with mining companies from four countries – United States, Indonesia, Australia and South Africa.
Following his visit to meet interested parties in the US, Mr Partha S Bhattacharyya, chairman CIL said: "Central Mine Planning & Design Institute (CMPDIL) is examining each of these offers. They have made different offers and CMPDIL is examining them to come up with a format for presentation that needs to be made to CIL top bosses by December."
"We found that the companies in the US have not been experiencing much of a rise in production due to demand stagnation. However, they said, adequate investment and rise in demand in the form of orders from India could give them the boost to enhance production and take up additional investment in conjunction with CIL," said Mr Bhattacharyya.
Adding, he said: "We intend to work out the terms of the long term contract through strategic alliances which can be an effective way of importing coal faster and at cheaper prices."
On funding the proposed investments, Mr Bhattacharyya said: "CIL has total reserves of about $5-6 billion. It generates additional reserves of about Rs 3-4K crore (US$ 0. 643 - 0.857 billion) every year that can take care of the domestic investments for expansion and we would be open to investing anything between $1-5 billion for these ventures."
Back home, CIL registered a 9.9% rise to 184.44 million tonnes (167.8) in the first half of 2009-10. However, production from underground mines, which started showing a marginal rise, has declined once again albeit marginally by 0.31 mt to 20.78 mt. Coal offtake, on the other hand, rose 4.3% at 194.3 mt (186.22 mt) in the same period.
The company registered a decline in profit before tax 20% to Rs 3,600 crore (US$ 771,839,976.31 ) against Rs 4,484 crore (US$ 961,369,570.50) in the previous period. It is expecting a Rs 2,000 crore (US$ 428,799,986.84) additional outgo on account of wage revision and a Rs 1,400 crore (US$ 300,159,990.78) tax payout.
On forward E-auction, CIL top bosses said the first few e-auctions did not evince much interest from customers. About 16 lakh tonnes was offered but only about 2 lakh tonnes was picked up. "It seems that the mark-up on the notified price has not attracted adequate interest.
The base prices for e-auction were on cost of production basis subject to a maximum of 100% over notified price, since coal being offered were from underground mines that may have turned unviable if sold at notified prices. However, we need to reduce the base price to attract adequate bidders," he said. (US$ 1 = INR 46.641)
Source: Economic Times
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Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
Thursday, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...
Thursday, 15 October 09
AUSTRALIAN MINING COMPANIES REPORTED FINDING 1.5 BILLION COAL MINE DEPOSIT IN MOZAMBIQUE
Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...
Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
Reuters reported that, Indonesia's state electricity firm PT Perusahaan Listrik Negara (PLN) has raised more than $1 billion from a group of banks ...
Wednesday, 14 October 09
LARSEN & TOUBRO MAY ENTER POWER GENERATION BUSINESS IN INDIA
Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...
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- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Posco Energy - South Korea
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
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