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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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Friday, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
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