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