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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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Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
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- CNBM International Corporation - China
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- Petron Corporation, Philippines
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- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
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- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
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- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
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- Kalimantan Lumbung Energi - Indonesia
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- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
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- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- New Zealand Coal & Carbon
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- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
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- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
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- Australian Coal Association
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
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- Vijayanagar Sugar Pvt Ltd - India
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