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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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Thursday, 17 December 09
CIL TO IMPORT 4 MILLION TONNES COAL FOR NTPC
The country's largest coal miner Coal India Ltd (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
"Earlier, ther ...
Wednesday, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
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- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
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