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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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Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
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- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- White Energy Company Limited
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
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