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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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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
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