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Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
 India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy to hedge against the cyclical nature of the shipping business.
The HK Mittal-controlled company has earmarked up to $100 million capex (nearly Rs 450 crore) for its coal business and is targeting production of 8 to 10 million tonne (MT) annually from Indonesia over the next five years. “The company is in talks with the Indonesian government and some private players for acquiring the coal mines,” a top level company source told ET.
Indonesia, the world’s third-largest exporter of steaming coal after Australia and China, had coal reserves of 4,328 MT at the end of 2007, according to a survey. The Indonesian government has allowed Indian companies to own 100% stake in coal mines.
Mercator acquired a coal block in Mozambique in 2008 and three coal mines in Indonesia last year and is aggressively searching for more in view of the huge demand from India and other countries.
While production has not yet started at the Mozambique block, the shipping firm is currently producing more than 2 MT of coal per year from the three Indonesian mines, which have a deposit of 21 MT. Now, Mercator has become the biggest exporter of coal from Indonesia to India through its subsidiary Oorja.
“We are keen to quickly acquire more mines in Indonesia. We may acquire a coal mine this year itself,” said sources. The company, over the past few years, has been attempting to minimise the impact of the cyclical nature of the shipping industry through its foray into other activities. As a result, during the first six months of the current financial year, revenues from offshore, coal handling and coal mining amounted to Rs 219.6 crore (US$ 47,739,130) or 25.7%, of its total consolidated revenues during the period. (1 USD = 46.0000 INR)
Source:Economic Times
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Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
Thursday, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
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- Salva Resources Pvt Ltd - India
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- The University of Queensland
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- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
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- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
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- Australian Coal Association
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- Leighton Contractors Pty Ltd - Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Parry Sugars Refinery, India
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- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
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- PTC India Limited - India
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- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
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- Jorong Barutama Greston.PT - Indonesia
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- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Ministry of Mines - Canada
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- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
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- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
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- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
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- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
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- Tata Chemicals Ltd - India
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- Economic Council, Georgia
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- Interocean Group of Companies - India
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- Energy Link Ltd, New Zealand
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- Ministry of Finance - Indonesia
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