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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, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Sojitz Corporation - Japan
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- Vijayanagar Sugar Pvt Ltd - India
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- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
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- White Energy Company Limited
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- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
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- Merrill Lynch Commodities Europe
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- Malabar Cements Ltd - India
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- Trasteel International SA, Italy
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- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
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- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
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- Price Waterhouse Coopers - Russia
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- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
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- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
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- Globalindo Alam Lestari - Indonesia
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- Goldman Sachs - Singapore
- The Treasury - Australian Government
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- Larsen & Toubro Limited - India
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- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
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- Australian Coal Association
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
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- Ministry of Transport, Egypt
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- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
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- Mintek Dendrill Indonesia
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- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
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- Thiess Contractors Indonesia
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- Bhoruka Overseas - Indonesia
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- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
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- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
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- Petron Corporation, Philippines
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- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- New Zealand Coal & Carbon
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