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Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
 Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange that it was buying into two Shanxi coal companies through one of its wholly-owned subsidiaries.
The move indicates the company's expansion into upstream business to secure power coal supply and reduce operational risks, said a China Securities Journal report.
Huadian Power International, the listed arm of one of China's five leading power producers, China Huadian Corp, bought a 70 percent stake in each of the two coal companies for 397.6 million yuan ($58.19 million) and 362.6 million yuan respectively.
One of the coal miners will be put into production by the end of this year and the other by the first half of next year, according to the company statement.
With coal reserves of about 290 million tons, the coal companies will provide steady power coal to Huadian Power International's coal-fired power plants, especially for those in Shandong province, the statement noted.
The purchase shows Huadian Power International's determination to achieve coal self-sufficiency and will play a positive role in improving its future performance, the report said, citing an electricity industry researcher.
China, the second largest power consumer in the world, uses coal to generate about 80 percent of its electricity; therefore thermal coal prices are fairly sensitive to the country's power generators.
Chinese coal-fired power plants incurred losses of about 70 billion yuan in 2008 and the country's five leading power-generating companies lost about 30 billion yuan due to soaring power coal costs and the State's price cap on electricity, said Zhai Ruoyu, general manager of China Datang Corp in March this year.
Spot thermal coal prices in China reached a record high of over 1,000 yuan a ton last July. Now, it is hovering around 570 yuan per ton.
On the other hand, the unsuccessful annual coal price negotiation in late December pushed thermal power generators to seek more reliable coal supply sources.
Each year, China's coal producers and power companies sit down to negotiate the following year's contract coal prices, which have long been a bone of contention.
Negotiations for 2009 coal prices resulted in a deadlock, as domestic coal miners aimed to charge power producers 10 percent more for fuel under the 2009 annual contracts, while power producers wanted a price cut of as much as 10 percent.
In order to be less vulnerable to domestic coal prices and less dependent on domestic coal miners, Chinese power enterprises stepped into the coal-mining industry in succession and bought more coal from abroad.
China Datang Corp, also one of the country's five biggest power generators, has been given the green light to expand into the coal- mining business, authorities said in March.
The Customs statistics showed China's coal import reached 9.43 million tons in May, more than double that in the same period of last year. China's coal import and export amounted to 32.20 million and 10.53 million tons respectively in the January–May period, or a net import of some 22 million tons.
China's five biggest power generators include China Huaneng Group, China Datang Corp, China Guodian Corp, China Huadian Corp and China Power Investment Corp.
Source:china.org.cn
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Tuesday, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- Semirara Mining and Power Corporation, Philippines
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- Planning Commission, India
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- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
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- OPG Power Generation Pvt Ltd - India
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- Singapore Mercantile Exchange
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- The Treasury - Australian Government
- ASAPP Information Group - India
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- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
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- Directorate General of MIneral and Coal - Indonesia
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- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
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- Minerals Council of Australia
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- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
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- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
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- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
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- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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- Karbindo Abesyapradhi - Indoneisa
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- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
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- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
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- Vedanta Resources Plc - India
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- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
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- ICICI Bank Limited - India
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- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
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- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
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- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
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- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
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- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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