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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, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
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- Wood Mackenzie - Singapore
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- Bhushan Steel Limited - India
- Parliament of New Zealand
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- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
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- Banpu Public Company Limited - Thailand
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- Petrochimia International Co. Ltd.- Taiwan
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- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
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- The University of Queensland
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- Indonesian Coal Mining Association
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- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
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- Sree Jayajothi Cements Limited - India
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- Global Business Power Corporation, Philippines
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- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
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- Siam City Cement - Thailand
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- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
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- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
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- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
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- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
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- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
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- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
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- Bulk Trading Sa - Switzerland
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- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
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- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
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- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- The State Trading Corporation of India Ltd
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- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
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- Orica Australia Pty. Ltd.
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- The Treasury - Australian Government
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- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
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- Kaltim Prima Coal - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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