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Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
 JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a top company executive said. Although the deal size could not be ascertained, a person privy to the development said it could be around Rs 300 crore (US$ 64,619,397). JSW Energy, which is in the process of raising fund through a public issue to expand power generation capacity, is currently sourcing thermal coal from JSW Steel under a purchase agreement.
Sajjan Jindal-led JSW Steel had acquired 200 million tonne Mozambique block through its affiliate JSW Natural Resources Mozambique a few years ago hoping to extract coking coal to feed its steel plant at Vijayanagar, Karnataka. But, the initial exploration and drilling activities undertaken by the company in Mozambique has revealed that the block has thermal coal reserves instead. While thermal coal is used in power generation, coking coal goes into steel-making.
“Fortunately or unfortunately, around 80% of the coal is in the form of thermal coal at Mozambique. We will probably get it valued and sell to JSW Energy. The balance 20% of the coking coal will be used by our steel plants,” JSW group managing director Sajjan Jindal said. JSW Steel will soon appoint consultants to get exact valuation of the Mozambique mine, said another person familiar with the development.
The transfer of thermal coal mine will help JSW Energy meet raw material requirement of its existing and proposed power plants. It plans to raise generation capacity from 995 mw currently to 3,140 mw by 2010. Its maiden public issue to raise Rs 2,700 crore will open on December 7 and close on December 9.
“JSW Energy plans to import 5 million tonne of coal in 2010-11 as the power firm looks to expand generating capacity. The company will import 2 million tonne of coal each from South Africa and Indonesia, besides 1 million tonne from Australia,” Mr Jindal said.
Both JSW Steel and JSW Energy are scouting for coal mines in Australia, Indonesia and South Africa to feed raw material requirements of their steel and power businesses, respectively. JSW Steel had earlier said it has earmarked investments of $500 million for acquiring the mines overseas due to unavailability of good quality coal in India. India is expected to produce 500 million tonne of coal this fiscal.
In addition, the coal imports in the current year is expected at close to 50 million tonne due to demand-supply mismatch. This has forced several power companies to look at supply arrangements in the overseas markets. 1 USD = 46.4257 INR
Source: Economic Times
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Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
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- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
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