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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 $500 million for acquiring the mines overseas due to unavailability of good quality coal in India. India is expected to produce 500 million tonne of coal this fiscal.
In addition, the coal imports in the current year is expected at close to 50 million tonne due to demand-supply mismatch. This has forced several power companies to look at supply arrangements in the overseas markets. 1 USD = 46.4257 INR
Source: Economic Times
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Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Planning Commission, India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
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