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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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Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
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- Kapuas Tunggal Persada - Indonesia
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- Petron Corporation, Philippines
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indonesian Coal Mining Association
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- Thai Mozambique Logistica
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- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Economic Council, Georgia
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- The University of Queensland
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- The State Trading Corporation of India Ltd
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- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- White Energy Company Limited
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- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
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- Global Green Power PLC Corporation, Philippines
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- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
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- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
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- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Sindya Power Generating Company Private Ltd
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- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
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- European Bulk Services B.V. - Netherlands
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- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
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- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
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- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
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