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