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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, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
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- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
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- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Aditya Birla Group - India
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- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
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- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
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- Formosa Plastics Group - Taiwan
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- Singapore Mercantile Exchange
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- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
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- ICICI Bank Limited - India
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- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
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- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
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- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
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- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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- Krishnapatnam Port Company Ltd. - India
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- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- The University of Queensland
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
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- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
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- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
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- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
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- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
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- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
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