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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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Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- The University of Queensland
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
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