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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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Thursday, 07 January 10
RAMKY PLANS COAL MINING IN INDONESIA
Ramky Infrastructure Limited, a Hyderabad-based integrated infrastructure construction and development management company with strategic emphasis on ...
Thursday, 07 January 10
INDONESIAS COAL OUTPUT MAY RISE TO 309 MILLION TONS IN 2014 - BLOOMBERG
Indonesia’s coal production may rise to 309 million tons by 2014 from an estimated 250 million tons this year, Bambang Setiawan, director-gene ...
Wednesday, 06 January 10
RICHARDS BAY SAYS 46% OF COAL EXPORTS WENT TO EUROPE
Richards Bay Coal Terminal, through which almost all of South Africa’s coal exports are routed, said 46 percent of the coal it exported in 200 ...
Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010
Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky ...
Wednesday, 06 January 10
INVESTMENT IN MINING TO TOP $2.5B IN 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday.
Bambang Setiawan, the director general of mineral r ...
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- Coalindo Energy - Indonesia
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- New Zealand Coal & Carbon
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- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
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- Africa Commodities Group - South Africa
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- The University of Queensland
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- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
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- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
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- Manunggal Multi Energi - Indonesia
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- Economic Council, Georgia
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- Australian Commodity Traders Exchange
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- Ministry of Transport, Egypt
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- Anglo American - United Kingdom
- Indian Energy Exchange, India
- McConnell Dowell - Australia
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- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
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- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
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- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
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- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
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- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
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- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
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- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
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- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
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- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
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- IEA Clean Coal Centre - UK
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- International Coal Ventures Pvt Ltd - India
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- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
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- Bhoruka Overseas - Indonesia
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- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
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