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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Kohat Cement Company Ltd. - Pakistan
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- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
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- Energy Development Corp, Philippines
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- Star Paper Mills Limited - India
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- Tata Chemicals Ltd - India
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- Orica Mining Services - Indonesia
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- Rashtriya Ispat Nigam Limited - India
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- ICICI Bank Limited - India
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- Formosa Plastics Group - Taiwan
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- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
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- Electricity Generating Authority of Thailand
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- Gujarat Electricity Regulatory Commission - India
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- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
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- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
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- Billiton Holdings Pty Ltd - Australia
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- Merrill Lynch Commodities Europe
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- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
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- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
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- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
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- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
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- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
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- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
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- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
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- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
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- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
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- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
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- Economic Council, Georgia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
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- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
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