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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 $6 million as token amount with a commitment to pay royalties once mining commences.
As per the red herring prospectus, on January 4, 2008, JSW Energy entered into a coal sales purchase contract with JSW Natural Resources Mozambique Limitada (“JSW Mozambique”) — an affiliate of JSW Steel. Under this contract, JSW Mozambique agreed to sell six million tonnes of steam coal annually, meeting a gross calorific value of 5,500-6,000 kilocalorie/kg. Delivery of the coal will begin in April 1, 2011, and continue for 25 years, the prospectus said.
During financial year 2008-09, JSW Mozambique posted a net loss of Rs 5.91 crore, and JSW Natural Resources was also in the red. “The whole transfer will be based on proper valuations and we are evaluating the prospect internally as well as by nominated few advisors. However, the timeline has not been decided. Following the transfer, the entire mine will be held by us and the long-term contract with JSW Natural Resources will be terminated,” said Pramod Menon, chief financial officer, JSW Energy.
“We expect the resource base to be sufficient to continue for 25 years. However, we will start with around five million tonnes of coal per annum instead of six million tonnes, as earlier agreed with JSW Natural Resources,” he said.
Jindal said all overseas coal mining asset acquisitions going forward will also be through JSW Energy.
Source: My Digital
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Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
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- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
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