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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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Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
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- The University of Queensland
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- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
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- Chamber of Mines of South Africa
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- The Treasury - Australian Government
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- Kumho Petrochemical, South Korea
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- Coastal Gujarat Power Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Indika Energy - Indonesia
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- Parliament of New Zealand
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- Neyveli Lignite Corporation Ltd, - India
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- Toyota Tsusho Corporation, Japan
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- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
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- Energy Link Ltd, New Zealand
- Economic Council, Georgia
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- Malabar Cements Ltd - India
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- Agrawal Coal Company - India
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- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
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- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
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- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
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- Xindia Steels Limited - India
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- Semirara Mining Corp, Philippines
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- Bhushan Steel Limited - India
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- Georgia Ports Authority, United States
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- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
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- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
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- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Central Electricity Authority - India
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- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
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