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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, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
Wednesday, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
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- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
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- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
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- Energy Development Corp, Philippines
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
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- Sarangani Energy Corporation, Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
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- SMG Consultants - Indonesia
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- Tamil Nadu electricity Board
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
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- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
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