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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, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
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- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
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- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
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- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Central Electricity Authority - India
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- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- White Energy Company Limited
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
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- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
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- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- PTC India Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
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