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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, 06 January 10
SAS 2009 COAL EXPORTS THROUGH RBCT FLAT AT 61MT
Exports through South Africa’s Richards Bay Coal Terminal (RBCT) remained flat in 2009, as the terminal faced “critical business challen ...
Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
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- Deloitte Consulting - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
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- India Bulls Power Limited - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
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- Trasteel International SA, Italy
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- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
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- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Petron Corporation, Philippines
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- Independent Power Producers Association of India
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- Medco Energi Mining Internasional
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- Australian Coal Association
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- The State Trading Corporation of India Ltd
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- Wood Mackenzie - Singapore
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- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
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- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
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- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
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- MS Steel International - UAE
- Ambuja Cements Ltd - India
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- London Commodity Brokers - England
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
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- Metalloyd Limited - United Kingdom
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- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
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- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
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- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
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- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
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- Wilmar Investment Holdings
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- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Baramulti Group, Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
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- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
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