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