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Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
 India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy to hedge against the cyclical nature of the shipping business.
The HK Mittal-controlled company has earmarked up to $100 million capex (nearly Rs 450 crore) for its coal business and is targeting production of 8 to 10 million tonne (MT) annually from Indonesia over the next five years. “The company is in talks with the Indonesian government and some private players for acquiring the coal mines,” a top level company source told ET.
Indonesia, the world’s third-largest exporter of steaming coal after Australia and China, had coal reserves of 4,328 MT at the end of 2007, according to a survey. The Indonesian government has allowed Indian companies to own 100% stake in coal mines.
Mercator acquired a coal block in Mozambique in 2008 and three coal mines in Indonesia last year and is aggressively searching for more in view of the huge demand from India and other countries.
While production has not yet started at the Mozambique block, the shipping firm is currently producing more than 2 MT of coal per year from the three Indonesian mines, which have a deposit of 21 MT. Now, Mercator has become the biggest exporter of coal from Indonesia to India through its subsidiary Oorja.
“We are keen to quickly acquire more mines in Indonesia. We may acquire a coal mine this year itself,” said sources. The company, over the past few years, has been attempting to minimise the impact of the cyclical nature of the shipping industry through its foray into other activities. As a result, during the first six months of the current financial year, revenues from offshore, coal handling and coal mining amounted to Rs 219.6 crore (US$ 47,739,130) or 25.7%, of its total consolidated revenues during the period. (1 USD = 46.0000 INR)
Source:Economic Times
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Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
Thursday, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
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Showing 6026 to 6030 news of total 6871 |
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- Australian Coal Association
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- The University of Queensland
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- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- GMR Energy Limited - India
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- Thai Mozambique Logistica
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- Kaltim Prima Coal - Indonesia
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- Ministry of Transport, Egypt
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- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
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- Larsen & Toubro Limited - India
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- Price Waterhouse Coopers - Russia
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- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- White Energy Company Limited
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- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
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- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
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- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
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- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- PTC India Limited - India
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- Jindal Steel & Power Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
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- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
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- Bhoruka Overseas - Indonesia
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- Formosa Plastics Group - Taiwan
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- Cement Manufacturers Association - India
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- Coal and Oil Company - UAE
- VISA Power Limited - India
- Carbofer General Trading SA - India
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- Merrill Lynch Commodities Europe
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- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
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- Electricity Generating Authority of Thailand
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- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Economic Council, Georgia
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- Australian Commodity Traders Exchange
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- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
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