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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, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Economic Council, Georgia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
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