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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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Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
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- Thiess Contractors Indonesia
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- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
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- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
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- Bayan Resources Tbk. - Indonesia
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- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
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- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
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- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
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- Economic Council, Georgia
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- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
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- Deloitte Consulting - India
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- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
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- Ministry of Mines - Canada
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- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
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- IHS Mccloskey Coal Group - USA
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- International Coal Ventures Pvt Ltd - India
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- GMR Energy Limited - India
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- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
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- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
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- Eastern Coal Council - USA
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- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
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- Edison Trading Spa - Italy
- White Energy Company Limited
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- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
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- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
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- South Luzon Thermal Energy Corporation
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- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
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- Romanian Commodities Exchange
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- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
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- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
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- Ministry of Finance - Indonesia
- Planning Commission, India
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- Gujarat Mineral Development Corp Ltd - India
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- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Eastern Energy - Thailand
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- Bangladesh Power Developement Board
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- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
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- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
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- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
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- Therma Luzon, Inc, Philippines
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- Videocon Industries ltd - India
- Medco Energi Mining Internasional
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- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
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- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- The University of Queensland
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