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Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
 Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The board of state-owned miner Coal India Ltd (CIL) on Saturday approved a plan to acquire equity interest in 15-20 coal mines in Australia, Indonesia and the US. This could cost CIL up to $2 billion (Rs9,280 crore), according to chairman Partha S. Bhattacharyya.
CIL would develop some of these mines in partnership with firms such as US-based Peabody Energy Corp.—the world’s largest private sector coal miner—and Massey Energy Co.; others are operating mines in which CIL will buy small equity stakes in return for committed coal supplies.
“This is CIL’s first step towards achieving a global footprint… the benefits are going to be substantial,” Bhattacharyya said.
Through competitive bidding, which started in July, CIL had identified nine investment proposals. Its board decided that CIL will pursue the two best investment proposals each in Australia, Indonesia and the US.
The six investment proposals would give CIL access to some 15-20 mines, the due diligence on which would soon begin. “Within six months, we’ll start closing deals,” he said. “We are going to deal with highly credible partners. So the due diligence exercise should not take too long.”
“This is CIL’s first step towards achieving a global footprint… the benefits are going to be substantial”
- Chairman,
Coal India Ltd. |
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants. Coal supplies from these mines are expected to begin in fiscal 2011, Bhattacharyya said.
In fiscal 2009, CIL produced 404 million tonnes of coal, of which almost 300 million was sold to power plants. In the same year, India imported around 60 million tonnes of coal, of which 36-37 million tonnes was thermal coal.
“It’s a step in the right direction,” said Sumantra Banerjee, managing director of CESC Ltd, a Kolkata-based power utility. Key to the success of this arrangement is the freight cost of importing the coal. “Even if CIL secures high quality coal, the freight cost of importing coal from many countries—Australia and South Africa for instance—is prohibitive,” Banerjee added.
CIL expects to secure supplies at a substantial discount to international spot prices. Even if the landed cost of coal imported under this arrangement is $10 a tonne less than international spot prices, the country will save $500 million a year, assuming CIL imports on an average 50 million tonnes of coal a year, Bhattacharyya said, adding, “Some of this will, of course, translate into profits for CIL.” To read more Livemint
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Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
Thursday, 04 February 10
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
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- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Australian Coal Association
- India Bulls Power Limited - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
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