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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- PTC India Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
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