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Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate unit that will offer consultancy and mining services to companies which have been allotted captive mines.
The public sector firm is in talks with BEML (formerly Bharat Earth Movers), another public sector undertaking, to form a joint venture to offer the services.
The government has so far allocated 198 captive coal blocks with estimated reserves of over 42 billion tonnes to various public and private sector companies. NTPC and BEML is planning to exploit this opportunity as most of these companies have no experience in coal mining.
“BEML has proposed a 50:50 joint venture with NTPC for starting contract coal mining operations. The company is examining the proposal and will finalise it after taking approval of its board,” said an official in the power ministry, who asked not to be named.
NTPC and BEML had signed a MoU in February 2007 for a long-term strategic and business partnership under which BEML provides its range of mining equipment, spares and services for NTPC’s coal mining operations. The proposed joint venture will take this relationship forward by creating a new entity engaged in contract coal mining.
BEML has moved ahead from being an equipment manufacturer and has forayed into contract mining business as part of its forward integration programme. In fact, it has associated with Indonesian Coal company Sumber Mitra Jaya (SMJ) as a business partner for contract mining.
Earlier, in a letter to NTPC chairman RS Sharma, BEML chairman and managing director VRS Natarajan has emphasised the need of the joint venture either in 51:49 ratio or 50:50 ratio to tide over an existing coal shortage. He also suggested that the new venture could look at contract mining of coal blocks allocated to NTPC apart from other entities and also apply for new coal blocks.
Of the 198 captive coal blocks allocated by the government so far, 22 have gone to Central government undertakings, 78 to state government undertakings and another 98 to private sector companies. All these would provide business opportunity for the proposed venture. It would also help to check imports of coal that has reached around 50 million tonne annually. NTPC alone plans to import 12.5 million tonne coal in 2009-10.
Source: http://economictimes.indiatimes.com/News/News-By-Industry/NTPC-to-delve-into-contract-mining/articleshow/4437300.cms
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Monday, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.
The transa ...
Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...
Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...
Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...
Friday, 20 March 09
COKING-COAL PRICE STRUCK AT $115-$125, CITIGROUP SAYS - BLOOMBERG
BHP Billiton Ltd., the world’s largest miner, agreed with Nippon Steel Corp. to benchmark coking coal prices of $115 to $125 a metric ton, Cit ...
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- Economic Council, Georgia
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- Antam Resourcindo - Indonesia
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- Aboitiz Power Corporation - Philippines
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- Indogreen Group - Indonesia
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- Bhatia International Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- London Commodity Brokers - England
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- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
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- Deloitte Consulting - India
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- Parliament of New Zealand
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- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
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