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