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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, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Planning Commission, India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
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- PetroVietnam Power Coal Import and Supply Company
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- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
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- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
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