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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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- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
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