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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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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 ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
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