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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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Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
Wednesday, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
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- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Planning Commission, India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
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