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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Australian Coal Association
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
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