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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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Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
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