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Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
 It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd but has yet to nominate the local entity which will partner the Indian state-run firm for prospecting and subsequent mining, the Cabinet was informed earlier this month.
According to government sources, CIL has to form a joint venture with a local partner who will be identified by that country's government for the concessions, identified as A1 and A2. CIL and its local partner will later have to shed 15% equity in the joint venture in favour of the Mozambique government, which cannot be brought down below 10%. Mozambique has also asked CIL to open an office in the national capital Maputo and train manpower.
For Block A1, CIL will make a refundable deposit of $2.1 million and pay $950,000 during the first five years of exploration phase and $15.25 million after five years during the mining phase. For Block A2, CIL will make a refundable deposit of $620,000, $330,000 in the exploration phase and over $5 million after five years.
CIL had won the blocks against nine other bidders. While one bid each from the UK and China were disqualified, there were three bids each from Portugal and Mozambique besides four from India. Block A1 covers an area of 109 sq km and Block A2 115 million. From preliminary studies, CIL reckons about 20% of the deposits to be coking coal and the remaining is expected to be good for using as fuel in power plants.
CIL is aiming to ensure a committed volume of around 20-30 million tonnes of coal from overseas which will be equal to about 50 million tonnes of domestic production. CIL has a cash pile of $6-7 billion. Since it can fund its future domestic expansion from internal accruals, it wants to use part of this reserve in getting equity in overseas mines.
CIL is also processing a plan for firming strategic partnerships with global majors and has shortlisted 12 firms, including Peabody of the US and Indonesia's Bumi. Some eight companies have made their presentations earlier this month. Four more are to make their proposals shortly.
One of the models that CIL is looking at could be that Coal India takes 10-15% equity in a producing mine or upto 25% in expanded capacity of an existing mine. In return, it will get captive right on a certain quantity of production. For CIL, such a partnership will ensure long-term volumes to bridge domestic supply gap and help it to cushion against price volatility.
The company had to import 59 million tonnes of coal when prices were at their peak of $60-65 per tonne of thermal coal. It will also help the company to achieve capacity targets quickly as expansion in India is hampered by the fact that most coal-bearing areas are inhabited and entail massive relief and rehabilitation of population.
Source: The Times of India
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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Tata Chemicals Ltd - India
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- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
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- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
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- Standard Chartered Bank - UAE
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- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
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- Romanian Commodities Exchange
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
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- Straits Asia Resources Limited - Singapore
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- White Energy Company Limited
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- Miang Besar Coal Terminal - Indonesia
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- PowerSource Philippines DevCo
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- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- London Commodity Brokers - England
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- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
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- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
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- Indian Oil Corporation Limited
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- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
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- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
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- McConnell Dowell - Australia
- Heidelberg Cement - Germany
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- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
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