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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, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
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Thursday, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
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- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
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- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
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- GN Power Mariveles Coal Plant, Philippines
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- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
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- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
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- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
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- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
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- Siam City Cement - Thailand
- Mercator Lines Limited - India
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- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
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- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
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