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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
 Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
Now coal miners are beginning to move to pick up stakes in power plants for better returns on the raw material they produce.
Minerals Energy Commodities (MEC), a 50:50 joint venture between Indian industrial minerals producer Trimex Group and the UAE Government-owned RAK Minerals and Metals, which is setting up a coal project in Indonesia, is close to firming up deals with private mega-power projects in India involving swapping coal for equity.
MEC has been talking with some of the major players in the power sector, including Tata Power, JSW Energy and Reliance Power, to push through its business model involving trading of coal in exchange for equity in the power projects.
“There has been a very encouraging response from the power projects in India. We will be concluding such coal-equity swap deals with three major power projects that are in the construction phase. We hope to make an announcement in the next couple of months,” Mr Madhu Koneru, Executive Vice-Chairman of MEC Holdings, told Business Line.
While most major players in the power sector such as Tata Power, JSW and Reliance, are in the process of acquiring coal assets abroad, this will be the first time they will sell equity in exchange for coal.
“This is a win-win situation for both. While we will get better returns on the coal we produce if we have equity in power projects, and power producers can benefit from assured raw material supplies,” Mr Koneru said.
Indonesia project
MEC is setting up a 30-million-tonne coal mining project in Indonesia at a cost of $2 billion, which is expected to start production from 2012.
The joint venture company has decided to earmark half of this production to supply to power projects in India through the equity-coal swap deal, with the rest to be sold in the open market.
“The 15 mt of coal will be sufficient to feed power plants with a total capacity of 4-5,000 MW. We will thus be signing this deal with three power projects with capacity of over 1,000 MW each,” he said.
The deals had taken some time for finalisation as MEC had to do elaborate due diligence to finalise the quantum of equity to compensate for the quantum of coal to be supplied.
What actually yielded encouraging response from the power players is that MEC is willing to supply the coal at production rates, ranging from $30-$35 a tonne, which is lower than the market price.
Source: blonnet
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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- Wood Mackenzie - Singapore
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- Directorate General of MIneral and Coal - Indonesia
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- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
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- Tamil Nadu electricity Board
- The Treasury - Australian Government
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- India Bulls Power Limited - India
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- Orica Mining Services - Indonesia
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- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
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- Toyota Tsusho Corporation, Japan
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- Dalmia Cement Bharat India
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- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Videocon Industries ltd - India
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- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Australian Coal Association
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Straits Asia Resources Limited - Singapore
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- Gujarat Electricity Regulatory Commission - India
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- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
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- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
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- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
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- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
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- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
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- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
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- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
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- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
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- Bhushan Steel Limited - India
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- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Parliament of New Zealand
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