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