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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, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
Tuesday, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW
Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...
Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of total exported quan ...
Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters ...
Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
COALspot.com (China): Press Release - Aiming at unveiling the growth area of IGCC polygeneration, IGCC Outlook China 2010 is planned to be hel ...
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- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- The University of Queensland
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
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