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Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
 Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
"Coal India (LTD) has been asked to look at opportunities overseas.....from where coal can be brought and agreements made," Coal Minister Sriprakash Jaiswal told reporters on the sidelines of national consultation on MPLADS.
Coal India, and several other state-run companies are actively scouting for coal mines abroad to secure their raw material supply.
The government has also floated a special purpose vehicle, International Coal Ventures Ltd (ICVL), with Coal India NTPC, SAIL, among others, as members for acquiring coal mines abroad.
Last week, Coal India Ltd (CIL) had said that it was in talks with Indonesia's Sinar Mas Group for acquiring coal mines in that country.
Indonesian conglomerate Sinar Mas Group has interests in coal mining, logging and wood-pulp production and palm oil plantations.
Besides, the fourth-largest coal firm in the US, Massey Energy was also negotiating with CIL for sale of some of its assets.
The Indian coal miner, which has earmarked Rs 6,000 crore this fiscal for acquisition of coal mines abroad, is also in advanced talks to acquire a stake in the US-based Peabody Energy Corp's asset in Australia.
Peabody is believed to have offered the state-run coal major 10 per cent equity in one of their coal producing mines in Australia.
At present, the demand-supply gap of coal in the country is around 80 million tonnes, which is projected to double in the next few years.
The country had a coal output of about 532 million tonnes in the last fiscal with CIL producing 431.5 MT of this.
CIL accounts for over 85 per cent of the domestic production in the country.
The state-owned company saw coal production of 253.26 million tonnes by November 15 last month (of the current financial year) compared to 245.89 million tonnes in the corresponding period of previous fiscal.
It hopes to achieve 460.5 million tonnes production target for the current fiscal.
Source: Economic Times
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Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
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- Singapore Mercantile Exchange
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- Economic Council, Georgia
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- Australian Coal Association
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- New Zealand Coal & Carbon
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- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
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- Videocon Industries ltd - India
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- Gujarat Mineral Development Corp Ltd - India
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- PetroVietnam Power Coal Import and Supply Company
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- PowerSource Philippines DevCo
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- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
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- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
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- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
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- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
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- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
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