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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
 * First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Monday it expects to start production at its Vele coking coal project in South Africa by April next year if the government grants it a license as expected this quarter.
The company had earlier predicted for the license to be granted within the third quarter.
Vele will initially produce up to 1 million tonnes of coal per year, to be ramped up to 5 million tonnes, and supply steel maker ArcelorMittal SA and exports.
"The Company expects the granting of a New Order Mining Right for its Vele coking coal project before the end of 2009 and production is expected to follow within four months of receiving the required legislative approval," Managing Director Simon Farrell said in a statement.
CoAL said it has railed and sold first coal from its Mooiplaats thermal coal project also in South Africa, with production in September reaching 30,000 tonnes of run of mine.
The miner has said it expects Mooiplaats to reach an annual run of mine production of 1.7 million tonnes by 2010, ramping up to 3.2 million tonnes by 2014.
Coal from Mooiplaats is expected to be railed to the Matola Terminal in Maputo, Mozambique, from where shipping is expected to commence by the end of this year.
CoAL said it had signed an off-take agreement with Traxys, a global mineral marketing company, for 35 percent of the export quality thermal coal from Mooiplaats.
The company said it has agreed the terms for a further 35-percent offtake with another global trader, with an agreement seen by end of 2009. CoAL is in talks with logistics group Transnet to increase its rail allocation on the lines to the Matola terminal via a public-private partnership (PPP) deal.
The company's export allocation at the port stands at 1 million tonnes per annum, to be expanded to 3 million tonnes by late 2010 and with the potential to reach 13 million tonnes following an expansion of the export terminal.
"I am optimistic that the railways PPP initiative will ensure that the Company will be able to deliver significant tonnage of coal to the international and domestic markets," Farrell said.
Shares in CoAL were trading up 0.28 percent at 14.50 rand by 0744 GMT, roughly in line with the JSE Top-40 blue-chip index
Source:Reuters
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Saturday, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- Malabar Cements Ltd - India
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- Price Waterhouse Coopers - Russia
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- PowerSource Philippines DevCo
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- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- MS Steel International - UAE
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- Bulk Trading Sa - Switzerland
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- Goldman Sachs - Singapore
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- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
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- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
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- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
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- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
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- Toyota Tsusho Corporation, Japan
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- Sindya Power Generating Company Private Ltd
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- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
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- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
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