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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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- Economic Council, Georgia
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- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
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- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
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- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
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- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
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- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
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- White Energy Company Limited
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- Merrill Lynch Commodities Europe
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- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- VISA Power Limited - India
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- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
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- Minerals Council of Australia
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- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
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- Jaiprakash Power Ventures ltd
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- Sarangani Energy Corporation, Philippines
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- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
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- Kobexindo Tractors - Indoneisa
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- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- The University of Queensland
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- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
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- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
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- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
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- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
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- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
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- Planning Commission, India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
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- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
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- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
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