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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, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- The University of Queensland
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
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