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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, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
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- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- White Energy Company Limited
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- LBH Netherlands Bv - Netherlands
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- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
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- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
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- Latin American Coal - Colombia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
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- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Parliament of New Zealand
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- Central Electricity Authority - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
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- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
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- GMR Energy Limited - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
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- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
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- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
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- Energy Link Ltd, New Zealand
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- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
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- Standard Chartered Bank - UAE
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- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
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- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
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- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
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- SMC Global Power, Philippines
- MS Steel International - UAE
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- Electricity Generating Authority of Thailand
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- Cigading International Bulk Terminal - Indonesia
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- Edison Trading Spa - Italy
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