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