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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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- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
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