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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
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
Thursday, 04 February 10
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
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- Australian Coal Association
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
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