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Saturday, 25 July 09
HUANENG EYES MAJORITY STAKE IN PT BERAU COAL
CCTV reported that, China's largest publicly traded power company has submitted a bid for controlling stake in Indonesia's fifth largest coal miner. This will be Huaneng's first overseas coal mine acquisition deal with a controlling stake if it wins.
Huaneng Power International has submitted a bid for a 51 percent stake in PT Berau Coal. The deal is worth 1 billion US dollars. It will also enable the successful bidder to have the stable supply of coal for power generation. By the end of 2008, the Indonesian firm had coal reserves of 300 million tons. It produced 13.2 million tons of high quality coal last year.
China's largest publicly traded power company has submitted a bid for controlling stake in Indonesia's fifth largest coal miner. This will be Huaneng's first overseas coal mine acquisition deal with a controlling stake if it wins
Xie Juchen, Branch Chairman of China Electricity Council, said, "The bidding suits the country's policies in this sector. It also suits the growth of Chinese power producers. Huaneng is going to be the first Chinese power company going overseas, and this is a very good example for other firms. "
Imported thermal coal is cheaper these days. The price averages between 65 to 70 US dollars per ton, which is attractive to China's coal-fired power plants. During the first half this year, China imported 40 million tons of coal, nearly double the amount in the same period last year.
If wins, Huaneng will use the coal to supply 15 power plants in China's southeast coal regions. PT Berau Coal also has a Dutch shareholder and a Japanese shareholder. Another 4 international coal enterprises have also submitted bids.
Source: CCTV
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Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
Wednesday, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
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- Directorate General of MIneral and Coal - Indonesia
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- Mercator Lines Limited - India
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- Indian Oil Corporation Limited
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- Standard Chartered Bank - UAE
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- Orica Mining Services - Indonesia
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- Xindia Steels Limited - India
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- Therma Luzon, Inc, Philippines
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- IEA Clean Coal Centre - UK
- Parliament of New Zealand
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