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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Planning Commission, India
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- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
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- The University of Queensland
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- Power Finance Corporation Ltd., India
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- Indian Energy Exchange, India
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- European Bulk Services B.V. - Netherlands
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