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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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Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
Thursday, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
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- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
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- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Chamber of Mines of South Africa
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- Directorate Of Revenue Intelligence - India
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- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- ICICI Bank Limited - India
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- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
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- LBH Netherlands Bv - Netherlands
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- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
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