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Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
 Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite attractive.
The Hindu Business Online reported that, 11 The large-size power projects announced by various Indian companies seem to have prompted a standalone Indonesian coal miner to come knocking on their doors.
Middle East Coal (MEC), a joint venture between Trimex Group and the UAE Government-owned RAK Minerals and Metals Investment, has initiated talks with these players to swap equity for coal. The company assures coal supply at $35-$40 a tonne for 15 years. Currently, coal prices are around $50-$55 a tonne.
MEC is developing a coal mine at East Kalimantan in Indonesia with proven reserves of two billion tonnes at an investment of $1 billion.
Mr Madhu Koneru, Executive Vice-Chairman, MEC, said production would begin with two million tonnes by the middle of next year and would be ramped up to 15 million tonnes by November 2011.
“We have floated a tender of $1 billion to develop a coal jetty and rail link of 130 km to transport the coal from the mine. With such huge investments, we thought of forward integration by joining hands with the promoters of large power projects,” he added.
The company wants to sell 70 per cent of its production to India and the balance to China.
On an average, about 17 million tonnes of coal are needed for a generation capacity of 5,000 MW. Coal accounts for about 60-70 per cent of the power production cost in India for producers dependent on imports.
Though companies such as Reliance Power, Tata Power and Adani Power have their own mines in Indonesia, MEC is confident of convincing Indian companies as the price it is offering is quite attractive.
It has managed to offer a lower price compared to others as the rail link being developed will result in savings of about 50 per cent of transportation costs.
The company is targeting new power projects as existing companies use coal with calorific value of 6300 Kcal/kg while MEC will produce coal with calorific value of 5300 Kcal/kg. The stripping ratio of MEC mines is 1:1 (mud to coal), while for most mines it is 8:1, said Mr Koneru.
MEC has also signed an agreement with Nalco which plans to set up a one million tonne alumina smelter at the coal mine site in Indonesia. Nalco will hold 74 per cent stake in the project while MEL will have 26 per cent equity to provide assured coal supplies. The company is in the process of negotiating the price, he said.
Source: The Hindu Business Online
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Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
Wednesday, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
...
Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
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- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
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- Intertek Mineral Services - Indonesia
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- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Planning Commission, India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
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- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
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- Indonesian Coal Mining Association
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- GMR Energy Limited - India
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- IHS Mccloskey Coal Group - USA
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- Ministry of Finance - Indonesia
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- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
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- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
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- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
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- Formosa Plastics Group - Taiwan
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- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
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- Chamber of Mines of South Africa
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- Australian Commodity Traders Exchange
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- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
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- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
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- MS Steel International - UAE
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- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
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- Energy Link Ltd, New Zealand
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- Manunggal Multi Energi - Indonesia
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- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
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- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
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