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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, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- The University of Queensland
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
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