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Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
 COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-billion supply contract with Kepco-SPC Power Corp. (KSPC).
Under the contract, MG Mining will deliver 320,000 tons of coal to KSPC’s 200-megawatt base-load power plant in Naga, Cebu, once it begins commercial operations sometime next year.
“We are very pleased to have signed this contract as a Filipino corporation, since this will help in easing the country’s dependence on imported energy sources, as well as help in conserving foreign-currency reserves,” Rufino Bomasang, SMEDC vice chairman and senior adviser, said.
He added that the agreement with KSPC is in line with the government’s thrust of promoting energy independence.
Michael Morales, SMEDC vice president for marketing, said KSPC has approved the quality of the coal after having met their specification.
Morales added that the contract is based on the delivery of coal with a burning quality of 4,300 kilocalories per kilo upon delivery.
However, he noted that MG Mining’s coal actually has higher calorific value than the KSPC requirement in the contract, as reflected in its ongoing coal deliveries to its existing customers since 2007.
MG Mining will initially be sourcing the coal from its mine in Bislig, Surigao del Sur, but also plans to offer, for KSPC’s approval, coal from the much-bigger Daguma coal reserves in Sultan Kudarat and South Cotabato once the mine there comes into full production next year.
With the specifications of coal required by the supply contract to KSPC, Morales said MG Mining is confident that even the Daguma coal will meet the requirement.
Bomasang said the Department of Energy has already granted the approval for the development and production of coal in the Daguma deposit.
Independent validation of the coal reserves indicates that the Bislig mine contains about 62 million tons of coal resources and about 30 million metric tons (MT) of minable reserves, while the company reported that Daguma has already blocked coal resources of 426 million tons.
Initial exploration and drilling have also blocked 55 million metric tons of minable reserves in 526 hectares of the 7,000-hectare coal property.
MG Mining said it expects to identify more minable reserves as it does more detailed work in the rest of the Daguma deposit.
The KSPC contract, according to MG Mining, only requires between 3.2 million MT to 6.4 million MT of minable reserve to complete the coal deliveries, over the 10-year period.
Morales said planning, preparation and development of the mines for the supply of coal to KSPC will begin this month, noting that this will entail additional investments to boost production. In 2008 the Bislig run-of-mine production rose to 200,000 tons of coal.
SMEDC said it still intends to pursue its shelved plans to undertake an initial public offering when market conditions have improved and its supply contract with KSPC will ensure that the public will then be looking at a company with a more solid revenue stream.
“The company will continue to update its registration and information statements with regulators to include positive developments such as this one, in preparation for its eventual public listing,” SMEDC said.
Source:Business Mirror
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Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
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