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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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Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
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- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
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