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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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Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
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- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- PTC India Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
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