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Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
 State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining assets in Mozambique, Indonesia and Australia, as the new government firms up plans to meet the growing energy demand.
While NTPC is focussing on Mozambique and Indonesia, Coal India is all set to sign a joint venture agreement with the Mozambique government and has also shortlisted mining firms in Australia and Indonesia, according to top executives from the two companies.
Speaking to ET, Coal India chairman Partha S Bhattacharyya said: “We hope to finalise our overseas expansion deals in Mozambique, Australia and Indonesia in the next three months. Coal India, which produced over 400 million tonne of coal in the previous fiscal, plans to raise its output to 520 million tonne by 2012 and 664 million tonne in the next five years. Its output past year accounted for 85% of the nation’s production. “From overseas assets, we aim to add 50 million tonne per annum by 2020,” added Mr Bhattacharyya.
In order to meet the country’s growing energy demands, NTPC and Coal India (CIL) have been trying to acquire overseas mining assets. Coal India’s overseas venture arm Coal Videsh and its joint venture unit International Coal Ventures are used for the purpose of acquisitions abroad.
International Coal Ventures is a special purpose vehicle (SPV) created by Coal India, SAIL, NTPC, National Mineral Development Corp and others to scout for coal assets abroad. Coal India and SAIL are major stake holders in the SPV.
According to NTPC chairman RS Sharma, “We will finalise merchant bankers for our proposed acquisitions next month.” NTPC has identified two mining assets in Indonesia and two in Mozambique for which due diligence process is in progress. The public sector utility would require about 150 million tonne of coal for its power units, which is mainly supplied by CIL.
Coal India is progressing fast also. “We have received the drafts of contract and the JV agreement from the Mozambique government,” said Mr Bhattacharyya. “We’ll go ahead after examining these documents,” he added. The company’s ventures in Australia and Indonesia are in advanced stages, he said, adding that the company has shortlisted few mining firms in both the countries.”
India’s largest coal producer has also been granted two exploratory coal mining blocks in Mozambique, with reserves of 1 billion tonne. “This project would require a joint investment of around Rs 2,000 crore per 10 million tonne exploration over five years. In this, CIL’s investment share would be in accordance with the nature of JV — it could be in order of 3:1 or 1:1,” said Mr Bhattacharyya.
Further, the coal ministry has proposals to raise the overseas investment limit of CIL beyond Rs 1,000 crore for asset acquisition. The proposal would be soon placed before the cabinet committee, minister of state for coal Sriprakash Jaiswal has said.
Being a navratna company, which has to be listed by October 2011, it could invest Rs 1,000 crore for overseas assets.
Source: Economic Times (http://economictimes.indiatimes.com/News-by-Industry/NTPC-Coal-India-to-buy-mining-assets/articleshow/4694481.cms)
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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Petron Corporation, Philippines
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- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
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- Iligan Light & Power Inc, Philippines
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- The University of Queensland
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- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
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- Grasim Industreis Ltd - India
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- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
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- Bangladesh Power Developement Board
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- Commonwealth Bank - Australia
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- Georgia Ports Authority, United States
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- White Energy Company Limited
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- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
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- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Australian Coal Association
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- Bhatia International Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
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- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
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- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
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- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
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- PTC India Limited - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
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- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
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- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
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- PowerSource Philippines DevCo
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- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Tamil Nadu electricity Board
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- Sindya Power Generating Company Private Ltd
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- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
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- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
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