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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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Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
Thursday, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Parliament of New Zealand
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- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
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- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
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- Power Finance Corporation Ltd., India
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- VISA Power Limited - India
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- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
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- The University of Queensland
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- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
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- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
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- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
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- Pendopo Energi Batubara - Indonesia
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- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
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- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
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- Goldman Sachs - Singapore
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