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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 $500 million for acquiring the mines overseas due to unavailability of good quality coal in India. India is expected to produce 500 million tonne of coal this fiscal.
In addition, the coal imports in the current year is expected at close to 50 million tonne due to demand-supply mismatch. This has forced several power companies to look at supply arrangements in the overseas markets. 1 USD = 46.4257 INR
Source: Economic Times
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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- The University of Queensland
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
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