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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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Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
Thursday, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
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- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
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