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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 $6 million as token amount with a commitment to pay royalties once mining commences.
As per the red herring prospectus, on January 4, 2008, JSW Energy entered into a coal sales purchase contract with JSW Natural Resources Mozambique Limitada (“JSW Mozambique”) — an affiliate of JSW Steel. Under this contract, JSW Mozambique agreed to sell six million tonnes of steam coal annually, meeting a gross calorific value of 5,500-6,000 kilocalorie/kg. Delivery of the coal will begin in April 1, 2011, and continue for 25 years, the prospectus said.
During financial year 2008-09, JSW Mozambique posted a net loss of Rs 5.91 crore, and JSW Natural Resources was also in the red. “The whole transfer will be based on proper valuations and we are evaluating the prospect internally as well as by nominated few advisors. However, the timeline has not been decided. Following the transfer, the entire mine will be held by us and the long-term contract with JSW Natural Resources will be terminated,” said Pramod Menon, chief financial officer, JSW Energy.
“We expect the resource base to be sufficient to continue for 25 years. However, we will start with around five million tonnes of coal per annum instead of six million tonnes, as earlier agreed with JSW Natural Resources,” he said.
Jindal said all overseas coal mining asset acquisitions going forward will also be through JSW Energy.
Source: My Digital
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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
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