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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 $500 million for acquiring the mines overseas due to unavailability of good quality coal in India. India is expected to produce 500 million tonne of coal this fiscal.
In addition, the coal imports in the current year is expected at close to 50 million tonne due to demand-supply mismatch. This has forced several power companies to look at supply arrangements in the overseas markets. 1 USD = 46.4257 INR
Source: Economic Times
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Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
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