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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, 17 December 09
CIL TO IMPORT 4 MILLION TONNES COAL FOR NTPC
The country's largest coal miner Coal India Ltd (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
"Earlier, ther ...
Wednesday, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
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- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
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