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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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Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
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- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
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