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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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Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Parry Sugars Refinery, India
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- Billiton Holdings Pty Ltd - Australia
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- Australian Coal Association
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- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
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- Chamber of Mines of South Africa
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- Romanian Commodities Exchange
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- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
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- Global Business Power Corporation, Philippines
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- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
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- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
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- Economic Council, Georgia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
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- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
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- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
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- Heidelberg Cement - Germany
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- Deloitte Consulting - India
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- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
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- Georgia Ports Authority, United States
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- Bhoruka Overseas - Indonesia
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- Independent Power Producers Association of India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Kobexindo Tractors - Indoneisa
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- Australian Commodity Traders Exchange
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- The State Trading Corporation of India Ltd
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