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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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Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
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- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
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