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Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
 It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd but has yet to nominate the local entity which will partner the Indian state-run firm for prospecting and subsequent mining, the Cabinet was informed earlier this month.
According to government sources, CIL has to form a joint venture with a local partner who will be identified by that country's government for the concessions, identified as A1 and A2. CIL and its local partner will later have to shed 15% equity in the joint venture in favour of the Mozambique government, which cannot be brought down below 10%. Mozambique has also asked CIL to open an office in the national capital Maputo and train manpower.
For Block A1, CIL will make a refundable deposit of $2.1 million and pay $950,000 during the first five years of exploration phase and $15.25 million after five years during the mining phase. For Block A2, CIL will make a refundable deposit of $620,000, $330,000 in the exploration phase and over $5 million after five years.
CIL had won the blocks against nine other bidders. While one bid each from the UK and China were disqualified, there were three bids each from Portugal and Mozambique besides four from India. Block A1 covers an area of 109 sq km and Block A2 115 million. From preliminary studies, CIL reckons about 20% of the deposits to be coking coal and the remaining is expected to be good for using as fuel in power plants.
CIL is aiming to ensure a committed volume of around 20-30 million tonnes of coal from overseas which will be equal to about 50 million tonnes of domestic production. CIL has a cash pile of $6-7 billion. Since it can fund its future domestic expansion from internal accruals, it wants to use part of this reserve in getting equity in overseas mines.
CIL is also processing a plan for firming strategic partnerships with global majors and has shortlisted 12 firms, including Peabody of the US and Indonesia's Bumi. Some eight companies have made their presentations earlier this month. Four more are to make their proposals shortly.
One of the models that CIL is looking at could be that Coal India takes 10-15% equity in a producing mine or upto 25% in expanded capacity of an existing mine. In return, it will get captive right on a certain quantity of production. For CIL, such a partnership will ensure long-term volumes to bridge domestic supply gap and help it to cushion against price volatility.
The company had to import 59 million tonnes of coal when prices were at their peak of $60-65 per tonne of thermal coal. It will also help the company to achieve capacity targets quickly as expansion in India is hampered by the fact that most coal-bearing areas are inhabited and entail massive relief and rehabilitation of population.
Source: The Times of India
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Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
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- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Trasteel International SA, Italy
- VISA Power Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
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