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