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Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
 Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal used in power plants in Asia’s third-biggest economy.
State-owned Coal India is offering 18 of its abandoned mines for development, Chairman Partha S. Bhattacharyya said by telephone, confirming a report in the Business Standard newspaper today. The offered mines hold combined reserves of 1.6 billion metric tons, Bhattacharyya said.
Finding partners may help the country’s monopoly miner increase production by 29 percent within three years and allow the nation to avoid costly imports. India aims to add 13,000 megawatts of new power capacity every year, President Pratibha Patil told parliament June 4. Coal fuels half of India’s power- generation capacity.
“We are amongst the companies considering,” the mines, Ian Head, a spokesman for Rio Tinto, said in an e-mail today.
London-based Rio Tinto, JSW Steel Ltd., GVK Power & Infrastructure Ltd. and Essar Mineral Resources Ltd. were short- listed, according to the Business Standard report.
“Steel producers have captive power plants and if they can get mines that can assure coal supplies, they would be interested,” said Pawan Burde, an analyst at Angel Broking Ltd. in Mumbai. “Secondary steel producers use sponge iron where they need thermal coal and they may be trying to secure coal for future expansion plans.”
Steel demand growth may almost double the pace previously estimated with the government planning to spend $8.95 billion to build networks of roads, telephones, electricity and irrigation.
Coal Shortages
Coal India aims to complete the bidding process by the year-end, Bhattacharyya said. The company invited separate bids for the mines, owned by three of its units, he said.
“Our portion of the equity will largely be the mines,” Bhattacharyya said. “The partners can have 50 percent of the coal provided they have customers in the country.”
Coal India produced 403.7 million tons in the year that ended March, according to data on the company’s Web site. The company signed a 20-year agreement on May 29 to supply the fuel to the coal-fired plants of NTPC Ltd., the country’s biggest power producer.
India’s coal shortage will be about 228 million tons by the year ending March 2012, J. Goel, chief general manager of sales and marketing at Coal India, said on Feb. 24. Demand may reach 731 million tons a year by then, government estimates show.
Source: Bloomberg (http://www.bloomberg.com/apps/news?pid=20601091&sid=acVNNnCPXmhg)
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Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
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- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
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- GVK Power & Infra Limited - India
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- Price Waterhouse Coopers - Russia
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- London Commodity Brokers - England
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- Bhatia International Limited - India
- Commonwealth Bank - Australia
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- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
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- Economic Council, Georgia
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- PTC India Limited - India
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- ASAPP Information Group - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
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- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
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- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
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- Australian Coal Association
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- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
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- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
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- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
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- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
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- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
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- PetroVietnam Power Coal Import and Supply Company
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- Petron Corporation, Philippines
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- AsiaOL BioFuels Corp., Philippines
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- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
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