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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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Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
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- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Planning Commission, India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
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