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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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- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
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- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
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- Bulk Trading Sa - Switzerland
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- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
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- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
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- India Bulls Power Limited - India
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- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
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- New Zealand Coal & Carbon
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- Formosa Plastics Group - Taiwan
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- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
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- Australian Coal Association
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Deloitte Consulting - India
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- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
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