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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- White Energy Company Limited
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
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