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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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Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
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- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Parliament of New Zealand
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
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