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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-$35 a tonne, which is lower than the market price.
Source: blonnet
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Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
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- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
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- Star Paper Mills Limited - India
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- The Treasury - Australian Government
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- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
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