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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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Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
Wednesday, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
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- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
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- Sical Logistics Limited - India
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- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- Siam City Cement - Thailand
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- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
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- Meralco Power Generation, Philippines
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- Eastern Coal Council - USA
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- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
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- Australian Coal Association
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- Ministry of Finance - Indonesia
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- White Energy Company Limited
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- Bhatia International Limited - India
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- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
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- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
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- Bangladesh Power Developement Board
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- Chamber of Mines of South Africa
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- Merrill Lynch Commodities Europe
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- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
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- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
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- Gujarat Electricity Regulatory Commission - India
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- Directorate General of MIneral and Coal - Indonesia
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- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
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- Semirara Mining Corp, Philippines
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- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
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- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
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- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
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- IEA Clean Coal Centre - UK
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
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- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
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- Wilmar Investment Holdings
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- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
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- Australian Commodity Traders Exchange
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