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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- VISA Power Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- PTC India Limited - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
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