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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 shortfall that is forcing more imports, Chairman Partha Bhattacharyya said.
Faster consent will allow the company to increase output by 10 percent, above its target of 7.5 percent, from a current production of 404 million metric tons a year, Bhattacharyya said in an interview. Domestic output has failed to meet demand, particularly from power generation, requiring the nation to increase imports by an average 10 percent to 15 percent a year.
“Increasing coal production capacity is not the same as adding to power generation capacity because you need so many other things,” Bhattacharyya said in New Delhi on June 15. “Coal in India is found in forests and places that are inhabited by tribes. Mining disturbs both.”
India, the world’s second fastest-growing major economy after China, aims to add 13,000 megawatts of new capacity annually, President Pratibha Patil said in parliament on June 4. More power is needed to cut outages that last as long as 8 hours in peak summer months in the capital. The country’s surge in power use has created a gap in coal production meeting demand from generators, Bhattacharyya said.
“If power generation capacity has to increase at a rate of 7 to 8 percent, maybe it can be managed,” he said. “But if it is to increase at 20 percent, I don’t think coal for that can come from indigenous sources.”
Overseas Partners
Coal India is taking steps to boost production, he said. It will seek to join with foreign companies to develop underground mines, Bhattacharyya said. Coal India, which mines more coal than Peabody Energy Corp. and China Shenhua Energy Co., the top coal producers in the U.S. and China, was created in 1975 from nationalized companies and has concentrated on less-complicated open-cast mining.
Environmental approvals to prospect for more reserves is a process that can take as long as seven years in India, Bhattacharyya said.
The constraints of coal production are forcing companies to seek reserves overseas. Coal India is looking at importing 4 million tons of coal this year.
NTPC Ltd., India’s biggest electricity generator, plans to import 12.5 million tons. Both state-owned companies are also scouting for overseas mines. In 2007, Tata Power Co., which is building a 4,000-megawatt plant in western India, bought a 30 percent stake in two coal mining units owned by Indonesia’s PT Bumi Resources, Asia’s third-largest coal miner. The $4.14 billion plant will run on coal from the Indonesian mines.
Imports Jump
India’s coal imports will more than double to 100 million tons by 2012 from 40 million tons, estimates Kaamil Fareed, a senior trading manager at the Coal & Oil Group, which supplies coal in India and Pakistan.
Coal India also plans to revive old mines to meet power plant demand for the fuel.
The company has identified 18 old underground mines with total reserves of 1.6 billion tons to increase output. These mines were abandoned by Coal India because of difficulties such as water-logging and fire. Coal India short-listed ArcelorMittal, the world’s biggest steelmaker, and nine other companies to develop its abandoned mines, Bhattacharya said yesterday.
Coal India has favored open-cast pits over underground mines, he said, as the majority of proved reserves were at depths of less than 300 meters (984 feet). “We know that we have a shortcoming in planning underground mines because we kept on doing better and better in open cast,” Bhattacharya said. “But underground has been ignored.”
Going Underground
Coal India lost the skill of underground mining because of its preference for the open-cast method, said Ashok Dhillon, chief executive officer at Canasia Power Corp., a Canadian company that has been trying to build a power plant in northern India for 15 years amid a lack of coal supplies.
“While they are one of the largest producers in the world by sheer volume, they are not the most expert of miners,” Dhillon said. “There may be reserves that Coal India finds difficult to get at but other international mining companies would find relatively easy to mine.”
The company has identified seven coal blocks where underground mines with a capacity of between 2 million tons and 5 million tons can be set up. The planning and development of the mines will be outsourced to international companies.
Source: Bloomberg (http://www.bloomberg.com/apps/news?pid=20601087&sid=aTGLk9JaTGBw)
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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 ...
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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- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
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- Economic Council, Georgia
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- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
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- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
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- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
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- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
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- PTC India Limited - India
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- Independent Power Producers Association of India
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- Essar Steel Hazira Ltd - India
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- Singapore Mercantile Exchange
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- Borneo Indobara - Indonesia
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- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
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- Leighton Contractors Pty Ltd - Australia
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- Banpu Public Company Limited - Thailand
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- The State Trading Corporation of India Ltd
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- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
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- European Bulk Services B.V. - Netherlands
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- Planning Commission, India
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- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
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- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
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- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
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- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
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- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
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- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
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- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
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