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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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Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
Thursday, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
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- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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