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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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Wednesday, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
Wednesday, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
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- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Ministry of Mines - Canada
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
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