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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- Bhatia International Limited - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
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- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
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- Electricity Authority, New Zealand
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- Directorate General of MIneral and Coal - Indonesia
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- Anglo American - United Kingdom
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- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
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- Australian Commodity Traders Exchange
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- GVK Power & Infra Limited - India
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- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
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- Semirara Mining and Power Corporation, Philippines
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- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
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- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
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- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
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- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
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- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
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- GMR Energy Limited - India
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- Medco Energi Mining Internasional
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
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- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Romanian Commodities Exchange
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- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
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- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
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- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
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- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
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