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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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Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
Wednesday, 16 December 09
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
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- TeaM Sual Corporation - Philippines
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- Maheswari Brothers Coal Limited - India
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- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
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- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
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- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
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- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
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- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- The University of Queensland
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
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- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- PTC India Limited - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
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- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
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- Planning Commission, India
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- Tamil Nadu electricity Board
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- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
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- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
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- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
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- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
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