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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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- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
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