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Friday, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
 JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with operations ranging from power generation, transmission, trading, mining and power equipment manufacture.
“We plan to sell the stake held by JSW Steel to JSW Energy and transfer ownership of the reserves in the coal block of Mozambique,” said Sajjan Jindal, vice-chairman and managing director of JSW Steel and CMD of JSW Energy.
JSW had entered into MoUs to acquire four concessions for prospecting and exploration licence for coal and associated minerals. The group paid $6 million as token amount with a commitment to pay royalties once mining commences.
As per the red herring prospectus, on January 4, 2008, JSW Energy entered into a coal sales purchase contract with JSW Natural Resources Mozambique Limitada (“JSW Mozambique”) — an affiliate of JSW Steel. Under this contract, JSW Mozambique agreed to sell six million tonnes of steam coal annually, meeting a gross calorific value of 5,500-6,000 kilocalorie/kg. Delivery of the coal will begin in April 1, 2011, and continue for 25 years, the prospectus said.
During financial year 2008-09, JSW Mozambique posted a net loss of Rs 5.91 crore, and JSW Natural Resources was also in the red. “The whole transfer will be based on proper valuations and we are evaluating the prospect internally as well as by nominated few advisors. However, the timeline has not been decided. Following the transfer, the entire mine will be held by us and the long-term contract with JSW Natural Resources will be terminated,” said Pramod Menon, chief financial officer, JSW Energy.
“We expect the resource base to be sufficient to continue for 25 years. However, we will start with around five million tonnes of coal per annum instead of six million tonnes, as earlier agreed with JSW Natural Resources,” he said.
Jindal said all overseas coal mining asset acquisitions going forward will also be through JSW Energy.
Source: My Digital
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Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
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- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
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