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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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- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- MS Steel International - UAE
- Singapore Mercantile Exchange
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- Xindia Steels Limited - India
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- Mercuria Energy - Indonesia
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- Goldman Sachs - Singapore
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- GMR Energy Limited - India
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- ICICI Bank Limited - India
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- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
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- Parliament of New Zealand
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- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
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- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
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- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
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- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
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- London Commodity Brokers - England
- Latin American Coal - Colombia
- White Energy Company Limited
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- Karbindo Abesyapradhi - Indoneisa
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- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Sical Logistics Limited - India
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- Indian Energy Exchange, India
- Australian Coal Association
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- The University of Queensland
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Energy Development Corp, Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
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- Power Finance Corporation Ltd., India
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- Port Waratah Coal Services - Australia
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- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
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- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
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- Independent Power Producers Association of India
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- Indonesian Coal Mining Association
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- Cement Manufacturers Association - India
- The Treasury - Australian Government
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