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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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Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
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- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
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- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
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- Metalloyd Limited - United Kingdom
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- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
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- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
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- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
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- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
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- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
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- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
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- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
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- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
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- Australian Commodity Traders Exchange
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- LBH Netherlands Bv - Netherlands
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- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
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