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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 of thermal coal, when it brings its two coking coal assets, Vele and Makhado, into production alongside its Mooiplaats thermal coal mine, in Mpumalanga province.
Mooiplaats thermal coal mine started production in 2008 and is ramping up to produce two-million tons of product a year, while Vele and Makhado are expected to start production in the first half of 2010 and 2011, respectively. CoAL expects to produce a total of 12-million tons a year by 2015.
Growth and Challenges
CoAL MD Simon Farrell says that the most significant growth potential for coal lies in steel manufacture.
“The increasing global demand for steel is the biggest factor in the growth of coking coal demand. While demand for steel has fallen in the last 12 months, we are now seeing positive signs that demand from Asia is returning. The spot price for coking coal has recovered from $120/t to $160/t, and thermal coal has recovered from $55/t to $65/t,” he asserts.
Further, power generation also holds growth potential. Farrell points out that South Africa has experienced severe power shortages, like the rest of Africa, and this is set to continue unless there is investment in new power stations. This signifies increased demand for thermal coal when Eskom begins
to construct additional power stations to meet the rising domestic demand for power.
Farrell says that the biggest challenge facing the coal industry is securing rail and port
allocation. However, CoAL is in a strong position as it has secured rail and port allocation for both its thermal and coking coal products.
“At Vele and Makhado, we have a memorandum of understanding with steel producer ArcelorMittal for it to take 2,5-million tons a year to five-million tons a year of CoAL’s coking coal from Musina for consumption at its Vanderbijlpark and Newcastle steelworks,” he says.
To cater for the export market, CoAL has secured a one-million-ton-a-year allocation at Maputo, in Mozambique, and has signed an agreement with the Matola terminal to assist in its future expansion.
A feasibility study is currently under way for a new terminal that can handle a
further 10-million tons a year, taking the total CoAL allocation to potentially 13-million tons a year.
Industry Issues
Farrell says that coal markets have experienced a dramatic fall from the highs seen in early 2008 when coking coal spot prices reached $300/t and thermal reached $190/t.
He adds that the fundamentals for domestic thermal coal remain strong. However,
insufficient investment in power stations has led to South Africa suffering further power shortages. In response, Eskom has pledged R150-billion to increase power generation over the next five years, which will require thermal coal.
Further, Farrell asserts that there is a huge demand for education and technical skills development in the coal industry. CoAL has committed R10-million as part of its training and skills development programme.
“As a key stakeholder, CoAL has taken the initiative to contribute to the education and skills development through the King Mphephu Ramabulana bursary fund, which provides bursaries to members of communities in the areas where CoAL has operations. To date, 30 bursaries have been awarded in the studies of engineering, geology and medicine,” he says.
Projects
The first phase of the Mooiplaats colliery is almost complete. The total capital expenditure for the mine is R1-billion, with the first-phase development estimated at R739-million, of which R574-million has already been spent. Farrell describes bringing the Mooiplaats mine into production on schedule and under budget as a milestone for CoAL. The majority of the raw
materials sourced for the Mooiplaats mine have come from South Africa.
“At Mooiplaats, we have sufficient rail and port agreements in place to rail the coal through the Matola terminal, in Maputo, where we currently have a one-million-ton- a-year allocation. An extra two-million tons a year will come on stream in the third quarter of 2010, following the completion of a current expansion programme,” Farrell says.
Meanwhile, the company is still waiting for new-order mining rights for its Vele coking coal mine to be granted.
“Construction is expected to start in the fourth quarter of this year, and we have
already ordered key equipment for Vele to enable us to begin construction immediately
following approval.
“Vele will start production in the first quarter of 2010, and phase one of the mining
operations will be complete by the middle of 2010, producing an expected one-million tons a year. The timing of phase two is dependent on demand,” he explains.
Vele is a R3-billion project, with phase one estimated at R350-million and producing one-million tons a year, while phase two will cost R2,65-billion.
Makhado’s new-order mining rights
application will be lodged in the fourth quarter of this year, pending the Section 11
approval, and construction will start in the second half of 2010, immediately after the granting of the new-order mining rights. The project will be completed with the
option to adopt a phased model, depending on market conditions. Makhado is a R2,7-billion project.
The company currently employs about 330 people and Vele alone will generate 800 jobs in the construction phase. Farrell adds that about 28 000 direct and indirect jobs will be created when both Vele and Makhado
become fully operational.
Source:Mining Weekly
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Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
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- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
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