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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, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
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- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
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