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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 $6 million as token amount with a commitment to pay royalties once mining commences.
As per the red herring prospectus, on January 4, 2008, JSW Energy entered into a coal sales purchase contract with JSW Natural Resources Mozambique Limitada (“JSW Mozambique”) — an affiliate of JSW Steel. Under this contract, JSW Mozambique agreed to sell six million tonnes of steam coal annually, meeting a gross calorific value of 5,500-6,000 kilocalorie/kg. Delivery of the coal will begin in April 1, 2011, and continue for 25 years, the prospectus said.
During financial year 2008-09, JSW Mozambique posted a net loss of Rs 5.91 crore, and JSW Natural Resources was also in the red. “The whole transfer will be based on proper valuations and we are evaluating the prospect internally as well as by nominated few advisors. However, the timeline has not been decided. Following the transfer, the entire mine will be held by us and the long-term contract with JSW Natural Resources will be terminated,” said Pramod Menon, chief financial officer, JSW Energy.
“We expect the resource base to be sufficient to continue for 25 years. However, we will start with around five million tonnes of coal per annum instead of six million tonnes, as earlier agreed with JSW Natural Resources,” he said.
Jindal said all overseas coal mining asset acquisitions going forward will also be through JSW Energy.
Source: My Digital
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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- ASAPP Information Group - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
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