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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, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
Wednesday, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
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- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
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