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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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- 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
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- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
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- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
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- White Energy Company Limited
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- Orica Australia Pty. Ltd.
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- Independent Power Producers Association of India
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- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
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- 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
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- 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
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- 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
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- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
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- Jindal Steel & Power Ltd - India
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- 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
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- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
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- 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
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- Goldman Sachs - Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Electricity Authority, New Zealand
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- 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
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- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
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- SMC Global Power, Philippines
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- The Treasury - Australian Government
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