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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Central Electricity Authority - India
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- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
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- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
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- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
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- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
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- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
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- Georgia Ports Authority, United States
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- Directorate General of MIneral and Coal - Indonesia
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- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
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- Sinarmas Energy and Mining - Indonesia
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- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
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