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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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- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
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