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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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Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
Friday, 15 January 10
ADARO INDONESIA STILL TOPS IN INDONESIAN COAL EXPORT RANKING
COALspot.com (Indonesia): PT. Adaro Indonesia, the world first Envirocoal producer and Indonesia's second largest thermal coal producer is top coal ...
Friday, 15 January 10
NTPC TO ADD 6,000 MW EACH YEAR IN 12TH PLAN
Will raise total generation capacity to 75,000 Mw by 2017, up from 30,644 Mw at present.
India's largest power generator NTPC, which will launch ...
Friday, 15 January 10
POSCO SAYS 2010 COKING COAL AGREEMENT MAY BE DELAYED - BLOOMBERG
Posco, South Korea’s biggest steelmaker, said an agreement on coking coal prices for this year may be delayed because major suppliers of the s ...
Friday, 15 January 10
CHINA POWER FIRMS SEEK COAL IMPORTS, SUPPLY SCARCE
China's coal-hungry power plants have turned to imported coal to cope with widespread shortages, but spot supply is scarce, traders said on Thursda ...
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- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
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- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
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- Intertek Mineral Services - Indonesia
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- Antam Resourcindo - Indonesia
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- Star Paper Mills Limited - India
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- Heidelberg Cement - Germany
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- Kumho Petrochemical, South Korea
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- Petron Corporation, Philippines
- Singapore Mercantile Exchange
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- Central Java Power - Indonesia
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- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
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- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
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- Wood Mackenzie - Singapore
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- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
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- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
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- Economic Council, Georgia
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- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
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- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
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- Therma Luzon, Inc, Philippines
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- Karbindo Abesyapradhi - Indoneisa
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- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
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- Indonesian Coal Mining Association
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- Wilmar Investment Holdings
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- Indogreen Group - Indonesia
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- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Directorate General of MIneral and Coal - Indonesia
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