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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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Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
Tuesday, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...
Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...
Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...
Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...
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- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- White Energy Company Limited
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
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