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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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Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
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- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Marubeni Corporation - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
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