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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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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
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