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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 $500 million for acquiring the mines overseas due to unavailability of good quality coal in India. India is expected to produce 500 million tonne of coal this fiscal.
In addition, the coal imports in the current year is expected at close to 50 million tonne due to demand-supply mismatch. This has forced several power companies to look at supply arrangements in the overseas markets. 1 USD = 46.4257 INR
Source: Economic Times
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Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
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- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
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