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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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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
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- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
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- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
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- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Sical Logistics Limited - India
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- Pipit Mutiara Jaya. PT, Indonesia
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- Attock Cement Pakistan Limited
- Minerals Council of Australia
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- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
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- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
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- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
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- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
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