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Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
 The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 million tonnes destined for India, the firm's chief executive said.
Indonesia is the world's top exporter of thermal coal, and coal production in East Kalimantan, on the island of Borneo, accounts for more than half of the country's total coal output, forecast to reach around 230 million tonnes this year.
MEC is a joint venture between UAE investment fund RAK Minerals and Metals Investments (RMMI) and UAE-based mining company Trimex. RMMI won a license in March to build a 150-km (93-mile) rail link to take coal from a mine in East Kalimantan province to a coal terminal.
"We are looking at full-scale production starting in 2010 with a delivery of 2 million tonnes," Naveen Chandralal, Middle East Coal's chief executive officer, told Reuters in an e-mail, adding that it would also begin work on the coal rail project.
The coal will be all exported to India, Chandralal said.
Shipments will subsequently increase up to 32 million tonnes by 2015, he added.
MEC operates a greenfield coal concession in East Kalimantan with estimated resources of 2 billion tonnes of low-sulphur/low-ash thermal coal.
The firm has been in talks to buy equity stakes in India's power plants in exchange for a long-term supply deal.
"Although India is a key market for coal as the country continues to address its power requirement, MEC would like to be part of the Indian growth story rather than just a supplier of coal," Chandralal said.
MEC is close to finalising agreements to take equity stakes in Indian power plants, he said, but declined to identify them, saying that was confidential information.
India is expected to step up coal imports in 2012 for its new power projects as its own production lags.
The firm also expects to start construction of the railway project to link its mine in Muara Wahau to Bengalon port in East Kalimantan, in March 2010, Chandralal said, "with a view to commissioning the first cargo train by early 2012".
The firm has acquired about 80 percent of the land needed for the project, he said. The project is estimated to cost around $1 billion, the firm has said.
Indonesia mostly uses waterways to ship coal as most coal mines are located near rivers or the open sea.
Source: Reuters
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Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
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- Asmin Koalindo Tuhup - Indonesia
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- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
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- New Zealand Coal & Carbon
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- Kumho Petrochemical, South Korea
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- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
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- Bukit Asam (Persero) Tbk - Indonesia
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- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
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- Rio Tinto Coal - Australia
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- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
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- Standard Chartered Bank - UAE
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- Videocon Industries ltd - India
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- Economic Council, Georgia
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- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Australian Coal Association
- Gujarat Sidhee Cement - India
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- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
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- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
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- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
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- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
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- European Bulk Services B.V. - Netherlands
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- AsiaOL BioFuels Corp., Philippines
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- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Planning Commission, India
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- Jaiprakash Power Ventures ltd
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