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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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Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
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- Coalindo Energy - Indonesia
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- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
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- Toyota Tsusho Corporation, Japan
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- Binh Thuan Hamico - Vietnam
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- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
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- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
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- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
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- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
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- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
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- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
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