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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
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 ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
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- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
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- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
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- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
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- Gujarat Sidhee Cement - India
- PTC India Limited - India
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- Energy Link Ltd, New Zealand
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
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- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
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- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
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- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
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- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
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