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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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- Sical Logistics Limited - India
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- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
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- Global Business Power Corporation, Philippines
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- Directorate General of MIneral and Coal - Indonesia
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- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
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- ASAPP Information Group - India
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- Ministry of Finance - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- MS Steel International - UAE
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- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
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- European Bulk Services B.V. - Netherlands
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- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
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- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
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- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
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- Indonesian Coal Mining Association
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- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
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- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
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- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
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- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
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- PTC India Limited - India
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- White Energy Company Limited
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
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- Neyveli Lignite Corporation Ltd, - India
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- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
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- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
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- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
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- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bharathi Cement Corporation - India
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- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Coal and Oil Company - UAE
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- Minerals Council of Australia
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- India Bulls Power Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
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