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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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Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
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- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
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