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