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Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
 JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to partially meet the rising raw material need of its steel business.
"Following the board approval to acquire certain coking coal mining concessions in USA on May 3, 2010, the company completed the acquisition," the company said in filing to the Bombay Stock Exchange.
"...It is planned to produce 1 million tonnes of coal in the first year starting from September 2010 which will go up to three million tonnes in the third year of operation," it added.
Moreover, the company said it is actively looking at acquisitions of coal mines to feed its rising steel production capacity.
The acquired coal assets with resources of 123 million tonnes are located in West Virginia in the US. These mines are owned by a string of US-based companies.
"While the total coking coal requirement of the company is estimated at 5 million tonnes per annum at the current capacity (about 6 million tonnes) the proposed coking coal from US will give integration to the extent of 20 per cent in the first year and goes up further at enhanced capacity of 11 million tonnes to 35 per cent," it said.
"The integration will benefit the company immensely even after factoring the higher freight from USA to India," it added.
The company currently has an installed production capacity of a little over six million tonnes in Vijaynagar in Karnataka and is working to add another three million tones to it. It also operates a one million tonne per annum plant in Salem.
With coking coal rates hovering around $200 a tonne, up by about 50 per cent from last year's level, steel firms are actively scouting to acquire such mines abroad and cut input costs.
Source:Press Trust of India / profit.ndtv
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Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
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