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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, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
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- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Australian Coal Association
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
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