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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, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- PTC India Limited - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Planning Commission, India
- The University of Queensland
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
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