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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, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
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- Gujarat Mineral Development Corp Ltd - India
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- Chamber of Mines of South Africa
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- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
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- Essar Steel Hazira Ltd - India
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- Renaissance Capital - South Africa
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- Toyota Tsusho Corporation, Japan
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- Energy Link Ltd, New Zealand
- White Energy Company Limited
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- Oldendorff Carriers - Singapore
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- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
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- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
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- The Treasury - Australian Government
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Ministry of Transport, Egypt
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- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
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- Independent Power Producers Association of India
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- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
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- Videocon Industries ltd - India
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- SMG Consultants - Indonesia
- Wilmar Investment Holdings
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- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
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- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
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- Singapore Mercantile Exchange
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- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
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- Indian Oil Corporation Limited
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- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
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- Global Business Power Corporation, Philippines
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- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
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