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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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Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
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- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- PTC India Limited - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
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