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Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
 Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The board of state-owned miner Coal India Ltd (CIL) on Saturday approved a plan to acquire equity interest in 15-20 coal mines in Australia, Indonesia and the US. This could cost CIL up to $2 billion (Rs9,280 crore), according to chairman Partha S. Bhattacharyya.
CIL would develop some of these mines in partnership with firms such as US-based Peabody Energy Corp.—the world’s largest private sector coal miner—and Massey Energy Co.; others are operating mines in which CIL will buy small equity stakes in return for committed coal supplies.
“This is CIL’s first step towards achieving a global footprint… the benefits are going to be substantial,” Bhattacharyya said.
Through competitive bidding, which started in July, CIL had identified nine investment proposals. Its board decided that CIL will pursue the two best investment proposals each in Australia, Indonesia and the US.
The six investment proposals would give CIL access to some 15-20 mines, the due diligence on which would soon begin. “Within six months, we’ll start closing deals,” he said. “We are going to deal with highly credible partners. So the due diligence exercise should not take too long.”
“This is CIL’s first step towards achieving a global footprint… the benefits are going to be substantial”
- Chairman,
Coal India Ltd. |
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants. Coal supplies from these mines are expected to begin in fiscal 2011, Bhattacharyya said.
In fiscal 2009, CIL produced 404 million tonnes of coal, of which almost 300 million was sold to power plants. In the same year, India imported around 60 million tonnes of coal, of which 36-37 million tonnes was thermal coal.
“It’s a step in the right direction,” said Sumantra Banerjee, managing director of CESC Ltd, a Kolkata-based power utility. Key to the success of this arrangement is the freight cost of importing the coal. “Even if CIL secures high quality coal, the freight cost of importing coal from many countries—Australia and South Africa for instance—is prohibitive,” Banerjee added.
CIL expects to secure supplies at a substantial discount to international spot prices. Even if the landed cost of coal imported under this arrangement is $10 a tonne less than international spot prices, the country will save $500 million a year, assuming CIL imports on an average 50 million tonnes of coal a year, Bhattacharyya said, adding, “Some of this will, of course, translate into profits for CIL.” To read more Livemint
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Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
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- Global Green Power PLC Corporation, Philippines
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- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
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- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
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- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
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- Posco Energy - South Korea
- Carbofer General Trading SA - India
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- Global Business Power Corporation, Philippines
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- Deloitte Consulting - India
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- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
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- Grasim Industreis Ltd - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- ICICI Bank Limited - India
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- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
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- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- White Energy Company Limited
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- Bukit Asam (Persero) Tbk - Indonesia
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- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
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- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Bhatia International Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
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- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
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- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
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