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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
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