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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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Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
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- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
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