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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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Saturday, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- The University of Queensland
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
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