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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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Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
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- Thiess Contractors Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
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