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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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Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
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- Port Waratah Coal Services - Australia
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- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
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- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
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- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
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- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
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- Eastern Coal Council - USA
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- Posco Energy - South Korea
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- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
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- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
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- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- CNBM International Corporation - China
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
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- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
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- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
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- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Pendopo Energi Batubara - Indonesia
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- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
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- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
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