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Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
 JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a top company executive said. Although the deal size could not be ascertained, a person privy to the development said it could be around Rs 300 crore (US$ 64,619,397). JSW Energy, which is in the process of raising fund through a public issue to expand power generation capacity, is currently sourcing thermal coal from JSW Steel under a purchase agreement.
Sajjan Jindal-led JSW Steel had acquired 200 million tonne Mozambique block through its affiliate JSW Natural Resources Mozambique a few years ago hoping to extract coking coal to feed its steel plant at Vijayanagar, Karnataka. But, the initial exploration and drilling activities undertaken by the company in Mozambique has revealed that the block has thermal coal reserves instead. While thermal coal is used in power generation, coking coal goes into steel-making.
“Fortunately or unfortunately, around 80% of the coal is in the form of thermal coal at Mozambique. We will probably get it valued and sell to JSW Energy. The balance 20% of the coking coal will be used by our steel plants,” JSW group managing director Sajjan Jindal said. JSW Steel will soon appoint consultants to get exact valuation of the Mozambique mine, said another person familiar with the development.
The transfer of thermal coal mine will help JSW Energy meet raw material requirement of its existing and proposed power plants. It plans to raise generation capacity from 995 mw currently to 3,140 mw by 2010. Its maiden public issue to raise Rs 2,700 crore will open on December 7 and close on December 9.
“JSW Energy plans to import 5 million tonne of coal in 2010-11 as the power firm looks to expand generating capacity. The company will import 2 million tonne of coal each from South Africa and Indonesia, besides 1 million tonne from Australia,” Mr Jindal said.
Both JSW Steel and JSW Energy are scouting for coal mines in Australia, Indonesia and South Africa to feed raw material requirements of their steel and power businesses, respectively. JSW Steel had earlier said it has earmarked investments of $500 million for acquiring the mines overseas due to unavailability of good quality coal in India. India is expected to produce 500 million tonne of coal this fiscal.
In addition, the coal imports in the current year is expected at close to 50 million tonne due to demand-supply mismatch. This has forced several power companies to look at supply arrangements in the overseas markets. 1 USD = 46.4257 INR
Source: Economic Times
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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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- Minerals Council of Australia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
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