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Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
 Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal supply, an executive said on Monday.
MEC is joint venture between UAE investment fund RAK Minerals and Metals Investments (RMMI) and UAE-based mining company Trimex. RMMI won a license in March to build a 150 km (93 miles) rail link carrying coal from a mine in Indonesia's East Kalimantan province to a coal terminal.
"We are close to signing a contact with a number of Indian power plants who need to be supplied with coal over the coming 15 years, the deals will be finalised by the end of next month," said Madu Koneru, vice chairman of Middle East Coal.
"India has one of the fastest growing economies and also has a shortage of power supply so that's why we have decided to go ahead with these deals," he told Reuters on the sidelines of a mining conference in Bahrain.
The deals would help MEC find the $500 million in financing it needs for the project, he said. MEC would start approaching institutions for funding once the deals were in place, he added.
RMMI plans to provide $100 million of the initial $600 million investment. Around $500 million will come from institutions such as the World Bank. The rest of the investment would come from additional partners that the company is now seeking, Koneru said.
The project has a cost estimate of around $1 billion.
Middle East Coal plans to start shipments of 3 to 5 million tonnes of thermal coal via road. Once the rail project is complete, shipments would rise to 17 million tonnes, Koneru said.
MEC had raised its projections for how much coal it could ship as it had progressed with planning for the project, Koneru said. Earlier this year, the company said that it would ship 15 million tonnes of coal.
Coal production in East Kalimantan accounts for over half of Indonesia's total coal output, forecast to reach around 230 million tonnes this year. Indonesia is the world's top exporter of thermal coal.
Of the 17 million tonnes, 10 million would be shipped to India, 7 million to China and the remaining two million tonnes to the UAE's northern emirate of Ras al-Khaimah, home to RMMI, said Koneru.
"And right now we are also in talks with Australian and Canadian companies, we hope one of them will operate the rail project," said Koneru.
The mines would be operated by local Indonesian companies.
The company had finalized in the past few weeks a deal to own 130 km of land in East Kalimantan which includes the coal mine.
"This is now private owned land and before we bought it no one was living on it," said Koneru. "But there are six villages in the area. We hope to create job opportunities for their people," he added.
Source: Reuters
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Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
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- Semirara Mining Corp, Philippines
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- Sojitz Corporation - Japan
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- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
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- New Zealand Coal & Carbon
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- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
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- Australian Coal Association
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
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- Posco Energy - South Korea
- Africa Commodities Group - South Africa
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- Singapore Mercantile Exchange
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- Commonwealth Bank - Australia
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- Chamber of Mines of South Africa
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- Edison Trading Spa - Italy
- White Energy Company Limited
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
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- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
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- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
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- Thai Mozambique Logistica
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
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- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
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- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
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- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
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- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
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- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
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- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
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- Tamil Nadu electricity Board
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
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- PTC India Limited - India
- Jaiprakash Power Ventures ltd
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- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
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- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
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- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
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- Simpson Spence & Young - Indonesia
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- Essar Steel Hazira Ltd - India
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- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Lanco Infratech Ltd - India
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- Merrill Lynch Commodities Europe
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