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Friday, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
 JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with operations ranging from power generation, transmission, trading, mining and power equipment manufacture.
“We plan to sell the stake held by JSW Steel to JSW Energy and transfer ownership of the reserves in the coal block of Mozambique,” said Sajjan Jindal, vice-chairman and managing director of JSW Steel and CMD of JSW Energy.
JSW had entered into MoUs to acquire four concessions for prospecting and exploration licence for coal and associated minerals. The group paid $6 million as token amount with a commitment to pay royalties once mining commences.
As per the red herring prospectus, on January 4, 2008, JSW Energy entered into a coal sales purchase contract with JSW Natural Resources Mozambique Limitada (“JSW Mozambique”) — an affiliate of JSW Steel. Under this contract, JSW Mozambique agreed to sell six million tonnes of steam coal annually, meeting a gross calorific value of 5,500-6,000 kilocalorie/kg. Delivery of the coal will begin in April 1, 2011, and continue for 25 years, the prospectus said.
During financial year 2008-09, JSW Mozambique posted a net loss of Rs 5.91 crore, and JSW Natural Resources was also in the red. “The whole transfer will be based on proper valuations and we are evaluating the prospect internally as well as by nominated few advisors. However, the timeline has not been decided. Following the transfer, the entire mine will be held by us and the long-term contract with JSW Natural Resources will be terminated,” said Pramod Menon, chief financial officer, JSW Energy.
“We expect the resource base to be sufficient to continue for 25 years. However, we will start with around five million tonnes of coal per annum instead of six million tonnes, as earlier agreed with JSW Natural Resources,” he said.
Jindal said all overseas coal mining asset acquisitions going forward will also be through JSW Energy.
Source: My Digital
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Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
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- Sree Jayajothi Cements Limited - India
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- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
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- The University of Queensland
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
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- Mjunction Services Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Romanian Commodities Exchange
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- Deloitte Consulting - India
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- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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