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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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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 ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Indika Energy - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
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