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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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Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Leighton Contractors Pty Ltd - Australia
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- Kumho Petrochemical, South Korea
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- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
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- Parliament of New Zealand
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- The Treasury - Australian Government
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- Ministry of Transport, Egypt
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- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
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- Lanco Infratech Ltd - India
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- Planning Commission, India
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- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
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- Pendopo Energi Batubara - Indonesia
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- White Energy Company Limited
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- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
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- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
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- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
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- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
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- Medco Energi Mining Internasional
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- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
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- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
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- Jaiprakash Power Ventures ltd
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- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
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- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
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- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
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- MS Steel International - UAE
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- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
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- Ceylon Electricity Board - Sri Lanka
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- Orica Australia Pty. Ltd.
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