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Wednesday, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
 The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-run Coal India Ltd (CIL), the country’s largest coal mining firm, is looking to partner another state-owned company, Shipping Corp. of India Ltd (SCI), to form a joint venture to import coal to control costs as overseas purchases of the fuel are set to surge.
The venture is expected to be on the lines of the company that CIL has planned with Steel Authority of India Ltd (SAIL) for coal imports in which both firms plan to hold a 25% stake, with the remaining held by other strategic partners.
“We have held initial talks with the Shipping Corp. and its CMD (chairman and managing director) for a partnership” and will make it formal “when the time comes”, said Partha Bhattacharyya, CMD of CIL. “We will create a benchmark and if we need more capacity, we will involve the private sector as well.”
CIL is keen to acquire equity in overseas coal blocks to bridge the gap between demand and supply of the fuel in the domestic market, even as coal production in the country continues to decelerate.
“Supply chain integration for coal sourcing from foreign assets makes business sense in light of the historical peaks in coal prices and shipping charter rates,” said Dipesh Dipu, principal consultant (mining) with audit and consulting firm PricewaterhouseCoopers. “Now, when the markets have slumped, it may present an opportunity to build capacities in logistics that may complement Coal India’s efforts of acquiring and mining coal assets abroad,” he said.
The move will also protect the company against volatility in the international prices of coal. Currently CIL imports around 29 million tonnes per annum (mtpa) of thermal coal, which is slated to increase to 40 mtpa shortly.
The company is looking at opportunities in countries such as Mozambique, Bangladesh, Indonesia, South Africa and Australia.
“We have chosen Shipping Corporation as we both are public sector units,” Bhattacharyya said.
While an SCI spokesperson declined to comment, a director, who did not want to be identified, said, “If the CMD of Coal India and the CMD of SCI had talks on such a plan, it is yet to be converted into a proposal for the consideration of the board.”
India has 256 billion tonnes of coal reserves, of which around 455 mtpa are mined.
CIL is targeting a production of 435 mt this year, against 403.73 mt in 2008-09. The country expects imports to rise from 59 mt of coal now to around 100 mtpa by 2012.
Demand is expected to reach about two billion tonnes a year by 2031-32, around five times the current rate of extraction, with the maximum demand coming from the power sector.
“An alliance with the PSU (public sector unit) shipping major may mean access to market intelligence and expertise for Coal India, on the one hand, and may help SCI hedge risk of business cycles in international bulk trades, on the other,” said Dipu of PricewaterhouseCoopers.
Source: Live Mint
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Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
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- Bulk Trading Sa - Switzerland
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- New Zealand Coal & Carbon
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
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- Formosa Plastics Group - Taiwan
- Australian Coal Association
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- Australian Commodity Traders Exchange
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- London Commodity Brokers - England
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- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
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- MS Steel International - UAE
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
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- Wood Mackenzie - Singapore
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- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
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- Parry Sugars Refinery, India
- Sical Logistics Limited - India
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- Romanian Commodities Exchange
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- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
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- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
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- Trasteel International SA, Italy
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- Indian Oil Corporation Limited
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- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
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- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Indian Energy Exchange, India
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- Bhoruka Overseas - Indonesia
- White Energy Company Limited
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- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
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- Petron Corporation, Philippines
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- LBH Netherlands Bv - Netherlands
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- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Minerals Council of Australia
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