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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 dry fuel in the domestic market, would negotiate with a few global mining majors including Rio Tinto in January 2010.
CIL has already held talks with some global mining players this month for a strategic alliance and would negotiate with a few more mining giants including Rio Tinto in January, said a source close to the development.
The nature of the strategic partnership with the global mining players would depend on the final outcome of the talks. CIL was open to picking up equity in the foreign mines or operate those mines jointly with the owners.
When contacted by Business Standard, a top CIL official said, “CIL has received a very good response to its global expressions of interest from the global mining players. We would negotiate with a couple of these firms in January.”
He, however, refused to divulge the names of these players. CIL is understood to have started negotiations with a few international coal miners like Peabody Energy (Australia), Massey Energy (USA) and Murray Energy, also based out of USA. These mining companies had given presentations to CIL.
The domestic coal major invited Expressions of Interest (EOI) from global mining firms in July this year for selection of strategic business partners in Australia, US, Indonesia and South Africa for undertaking joint business initiatives in coal mining.
As many as 52 global mining firms had evinced interest in forging a partnership and 12 of them were shortlisted by CIL. Coal India had also constituted a high-level committee to work out the modalities of the tie-up with these overseas coal firms.
Sources said, CIL aimed to seal the deal with a couple of these mining firms before the end of this fiscal.
CIL with a cash reserve of around Rs 30,000 crore was looking to expand overseas by forging partnerships with global mining giants.
It may be noted that in March this year, CIL was awarded two exploratory coal blocks- A1 and A2 in Tete province of Mozambique having an estimated reserve of one billon tonnes.
CIL is in negotiations with the Mozambique government for carrying out exploration work on the two coal blocks.
The mining activity on these two coal blocks, spread over 224 sq km, was set to commence after three years.
CIL has also formed a special purpose vehicle called International Coal Ventures Limited (ICVL) with four other state run firms- NTPC, SAIL, NMDC and RINL for acquisition of overseas coal assets.
The race for acquisition of overseas coal assets was gaining momentum in view of the burgeoning coal demand in India.
The domestic coal demand was projected at 730 million tonnes (mt) by 2011-12 but domestic coal production was pegged at 520 mt by then, thereby creating a shortfall of over 200 mt.
Source: Business-Standard
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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
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 ...
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 bu ...
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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- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Australian Coal Association
- Planning Commission, India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
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