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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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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
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- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
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