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