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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, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
Monday, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
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- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
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