Saturday, 11 Feb 2012
The Times of Zambia reported that Zambia is poised to become a leading coal producer in the region by 2013 due to increased investments in the mining sector.
Mines Minister Wilbur Simuusa said given the current rate of development in the mining industry supported by strong economic growth as well as attractive commodity prices of coal on the international market, Zambia was poised to become the leading coal producer in the region.
The Zambian government expects the country's coal production to hit 200, 000 tonnes per month by mid 2013 and this is attributed to the current upgrades going on at the country's largest coal producer, Maamba Collieries Limited and new projects to be undertaken during the year.
The Zambian minister however said that the coal mining industry had not yet developed to the level of the copper mining sector and that more investment needed to be attracted in the sector to improve production.
The country's largest coal producer is targeting to start producing 100, 000 tons of coal by mid 2013 due to investments pumped in by the new owners, Nava Bharat of Singapore, who acquired a 65% stake in the mine in 2010.
(Sourced from Xinhua)
Showing posts with label coal producers. Show all posts
Showing posts with label coal producers. Show all posts
Saturday, February 11, 2012
Sunday, December 25, 2011
Philippine coal firm ink 7 year power deal with Meralco
Sunday, 25 Dec 2011
Reuters reported that the Philippines' largest coal producer, Semirara Mining Corp a wholly owned unit had signed 7 year deal to sell up to a 410 MW power capacity to Manila Electric Co.
The deal between Meralco, the country largest power distributor, and Semirara SEM-Calaca Power Corp unit involves an initial contracted capacity of 210 MW which can be increased by 200 MW.
The two parties could extend the deal by three years, Semirara told the stock exchange without disclosing any financial details.
SEM-Calaca owns a 600 MW coal fired thermal power plant in Batangas province, south of Manila while Semirara operates the country biggest coal mine located in the central Visayas region.
Meralco which is indirectly controlled by Hong Kong-based conglomerate First Pacific Co Ltd and partly owned by San Miguel Corp is looking to build power plants with a total capacity of 1,500 MW over the next four years to meet an expected increase in power demand.
(Sourced from Reuters)
Reuters reported that the Philippines' largest coal producer, Semirara Mining Corp a wholly owned unit had signed 7 year deal to sell up to a 410 MW power capacity to Manila Electric Co.
The deal between Meralco, the country largest power distributor, and Semirara SEM-Calaca Power Corp unit involves an initial contracted capacity of 210 MW which can be increased by 200 MW.
The two parties could extend the deal by three years, Semirara told the stock exchange without disclosing any financial details.
SEM-Calaca owns a 600 MW coal fired thermal power plant in Batangas province, south of Manila while Semirara operates the country biggest coal mine located in the central Visayas region.
Meralco which is indirectly controlled by Hong Kong-based conglomerate First Pacific Co Ltd and partly owned by San Miguel Corp is looking to build power plants with a total capacity of 1,500 MW over the next four years to meet an expected increase in power demand.
(Sourced from Reuters)
Sunday, December 18, 2011
China Shenhua to make alumina from coal ash-Xinhua
Sun Dec 18, 2011
BEIJING Dec 18 (Reuters) - China Shenhua Group, the country's largest coal producer, has started building a $21.4 billion facility to produce alumina from coal ash, the state Xinhua news agency said on Sunday, citing a senior company executive.
The company plans to invest 135.8 billion yuan ($21.4 billion) in the project, near Jungar coal mine in Ordos city in northern China's Inner Mongolia, Xinhua quoted Ling Wen, deputy manager of Shenhua Group, as saying.
No details were given about how the company would turn coal ash, a waste byproduct of thermal power generation, into alumina.
The project included a 6,600-megawatt power plant, an alumina plant and a gallium plant, all of which will use materials recycled from coal burning, Xinhua said.
Ordos, which is home to one-sixth of the country's coal reserves, will be able to produce 3 billion tonnes of alumina, which is used to make aluminum, according to Xinhua.
Shenhua Group is parent of China Shenhua Energy Co Ltd . ($1=6.3484 yuan)
(sourced Reuters)
BEIJING Dec 18 (Reuters) - China Shenhua Group, the country's largest coal producer, has started building a $21.4 billion facility to produce alumina from coal ash, the state Xinhua news agency said on Sunday, citing a senior company executive.
The company plans to invest 135.8 billion yuan ($21.4 billion) in the project, near Jungar coal mine in Ordos city in northern China's Inner Mongolia, Xinhua quoted Ling Wen, deputy manager of Shenhua Group, as saying.
No details were given about how the company would turn coal ash, a waste byproduct of thermal power generation, into alumina.
The project included a 6,600-megawatt power plant, an alumina plant and a gallium plant, all of which will use materials recycled from coal burning, Xinhua said.
Ordos, which is home to one-sixth of the country's coal reserves, will be able to produce 3 billion tonnes of alumina, which is used to make aluminum, according to Xinhua.
Shenhua Group is parent of China Shenhua Energy Co Ltd . ($1=6.3484 yuan)
(sourced Reuters)
Sunday, November 6, 2011
Indian white coal gains popularity in Europe
Sunday, 06 Nov 2011
Commodity Online reported that the white Coal produced from agricultural waste in Rajasthan has gained popularity in European countries.
The white coal produces very low level of carbon which helps to protect the environment as result the demand for the commodity has been rising in Europe as it enables to earn Carbon Credit points.
The rising coal price has also raised the demand for the commodity from Europe.
The environmentalists have praised the production of white coal as it is eco friendly and uses the waste materials from agriculture which was earlier thrown away. The production of white coal is also providing returns to farmers.
In India, Rajasthan has become the major hub for white coal. Over 200 units in Ganganagar, Kota and Jaipur.are in process of producing white coal.
According to Mr VK Parikh, environmentalist, the people who are using bio fuels are getting back 25% of their fuel cost. The major companies in the region are engaging in this production. The future of these industries is bright and it will grow. It is beneficial for the environment as well.
(sourced from commodityonline)
Commodity Online reported that the white Coal produced from agricultural waste in Rajasthan has gained popularity in European countries.
The white coal produces very low level of carbon which helps to protect the environment as result the demand for the commodity has been rising in Europe as it enables to earn Carbon Credit points.
The rising coal price has also raised the demand for the commodity from Europe.
The environmentalists have praised the production of white coal as it is eco friendly and uses the waste materials from agriculture which was earlier thrown away. The production of white coal is also providing returns to farmers.
In India, Rajasthan has become the major hub for white coal. Over 200 units in Ganganagar, Kota and Jaipur.are in process of producing white coal.
According to Mr VK Parikh, environmentalist, the people who are using bio fuels are getting back 25% of their fuel cost. The major companies in the region are engaging in this production. The future of these industries is bright and it will grow. It is beneficial for the environment as well.
(sourced from commodityonline)
Monday, October 31, 2011
Indonesia Stocks Movers: Adaro Energy, Garuda, Indosat, Timah
Monday, October 31, 2011
Oct. 31 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the close in Jakarta.
The Jakarta Composite index fell 1.0 percent to 3,790.85, slid for the first day .
Coal producers: PT Bumi Resources (BUMI IJ), Indonesia’s biggest coal producer, dropped 4.1 percent to 2,350 rupiah. PT Adaro Energy (ADRO IJ), second-largest coal mining company, fell 4.7 percent to 2,025 rupiah.
Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, dropped 0.2 percent in the week ended Oct. 28. Coal prices at the New South Wales port declined to $117.89 a metric ton from $118.10 the previous week, according to the globalCOAL NEWC Index.
Nickel producers: PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, dropped 2 percent to 3,650 rupiah. PT Aneka Tambang (ANTM IJ), the second- biggest, fell 2.2 percent to 1,790 rupiah.
Nickel for three-month delivery dropped 1 percent to $19,700 a metric ton on the London Metal Exchange on Oct. 28 and last traded at $19,400.
PT Buana Listya Tama (BULL IJ), an Indonesian provider of freight transportation services, advanced 4.6 percent to 114 rupiah after the company reported nine-month net income jumped to 250.64 billion rupiah from a year earlier.
PT Garuda Indonesia (GIAA IJ), Indonesia’s biggest carrier, climbed gained 2.3 percent to 445 rupiah as crude oil futures fell for a second day in New York, reducing fuel-cost pressure on the Indonesian airline.
PT Indosat (ISAT IJ), an Indonesian telephone company, rose 1.9 percent to 5,350 rupiah after the company reported nine- month net income rose to 992 billion rupiah ($112 million), from 530.9 billion rupiah a year earlier.
PT Timah (TINS IJ), Indonesia’s largest tin mining company, dropped 1.7 percent to 1,990 rupiah. Fifteen tin producers in Indonesia, the world’s largest shipper, agreed to extend a self- imposed ban on exports until the end of the year to help boost prices. They will seek to widen support for the halt at a meeting this week.
(sourced Bloomberg)
Oct. 31 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the close in Jakarta.
The Jakarta Composite index fell 1.0 percent to 3,790.85, slid for the first day .
Coal producers: PT Bumi Resources (BUMI IJ), Indonesia’s biggest coal producer, dropped 4.1 percent to 2,350 rupiah. PT Adaro Energy (ADRO IJ), second-largest coal mining company, fell 4.7 percent to 2,025 rupiah.
Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, dropped 0.2 percent in the week ended Oct. 28. Coal prices at the New South Wales port declined to $117.89 a metric ton from $118.10 the previous week, according to the globalCOAL NEWC Index.
Nickel producers: PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, dropped 2 percent to 3,650 rupiah. PT Aneka Tambang (ANTM IJ), the second- biggest, fell 2.2 percent to 1,790 rupiah.
Nickel for three-month delivery dropped 1 percent to $19,700 a metric ton on the London Metal Exchange on Oct. 28 and last traded at $19,400.
PT Buana Listya Tama (BULL IJ), an Indonesian provider of freight transportation services, advanced 4.6 percent to 114 rupiah after the company reported nine-month net income jumped to 250.64 billion rupiah from a year earlier.
PT Garuda Indonesia (GIAA IJ), Indonesia’s biggest carrier, climbed gained 2.3 percent to 445 rupiah as crude oil futures fell for a second day in New York, reducing fuel-cost pressure on the Indonesian airline.
PT Indosat (ISAT IJ), an Indonesian telephone company, rose 1.9 percent to 5,350 rupiah after the company reported nine- month net income rose to 992 billion rupiah ($112 million), from 530.9 billion rupiah a year earlier.
PT Timah (TINS IJ), Indonesia’s largest tin mining company, dropped 1.7 percent to 1,990 rupiah. Fifteen tin producers in Indonesia, the world’s largest shipper, agreed to extend a self- imposed ban on exports until the end of the year to help boost prices. They will seek to widen support for the halt at a meeting this week.
(sourced Bloomberg)
Wednesday, October 19, 2011
Singareni Collieries may hike coal price
The coal miner may end up missing its production target of 53.4 million tonnes for the current fiscal which ends on 31 March 2012. The strike caused SCCL a production loss of 4.5 million tonnes
Wed, Oct 19 2011
By Viswanath Pilla
Hyderabad: The country’s second largest coal producer, Singareni Collieries Co. Ltd (SCCL), is set to increase the price of the fuel after a 35-day strike by workers in the Telangana region of Andhra Pradesh caused production to decline and as the company prepares to raise wages and pay a Diwali bonus.
“A price hike is under consideration,” said J.V. Dattatreyulu, director (operations). “We need to get permission from the Central government before we do it.”
SCCL employees returned to work on Tuesday after ending the walkout, part of the campaign for a separate state of Telangana that also shut educational institutions and disrupted public transport in the region comprising 10 districts of Andhra Pradesh.
SCCL, which produces 1,65,000 tonnes of coal daily, last revised coal prices, which depend on the calorific value or heat value of the fuel, in August.
The coal miner may end up missing its production target of 53.4 million tonnes for the current fiscal which ends on 31 March 2012. The strike caused SCCL a production loss of 4.5 million tonnes.
“...we still have five-and-a-half months in the current financial year to try to make up for production we lost,” Dattatreyulu said.
SCCL produced 51.33 million tonnes of coal and earned Rs. 9,892.14 crore of revenue in the year ended 31 March 2011.
The revenue loss on account of the strike is estimated to be in the range of Rs. 550-600 crores.
SCCL has 50 mines, including 14 open cast and 36 underground mines, spread across four districts of Telangana. It has 67,104 workers, making it the biggest employer in the region.
“The prices of domestic coal have been rising, albeit sporadically, on a cumulative annual growth rate of 7-8% for the regulated businesses like power sector,” said Dipesh Dipu, director-consulting, mining, at Deloitte Touche Tohmatsu India Pvt. Ltd.
“The uncertainty around the quantum of price increase makes assessment of impact difficult but generally every Rs. 100 per tonne increase in coal price can make energy dearer by 4-6 paise per kilowatt-hour,” he said.
SCCL also faces a higher wage bill, with workers’ pay expected to rise by as much as 25%. The yearly wage bill of the company is Rs. 2,650 crore. SCCL also pays a Diwali bonus on par with Coal India Ltd, the country’s largest miner, which recently agreed to pay a Rs. 21,000 bonus. SCCL will spend nearly Rs. 130 crore to match the payment.
(sourced livemint)
Wed, Oct 19 2011
By Viswanath Pilla
Hyderabad: The country’s second largest coal producer, Singareni Collieries Co. Ltd (SCCL), is set to increase the price of the fuel after a 35-day strike by workers in the Telangana region of Andhra Pradesh caused production to decline and as the company prepares to raise wages and pay a Diwali bonus.
“A price hike is under consideration,” said J.V. Dattatreyulu, director (operations). “We need to get permission from the Central government before we do it.”
SCCL employees returned to work on Tuesday after ending the walkout, part of the campaign for a separate state of Telangana that also shut educational institutions and disrupted public transport in the region comprising 10 districts of Andhra Pradesh.
SCCL, which produces 1,65,000 tonnes of coal daily, last revised coal prices, which depend on the calorific value or heat value of the fuel, in August.
The coal miner may end up missing its production target of 53.4 million tonnes for the current fiscal which ends on 31 March 2012. The strike caused SCCL a production loss of 4.5 million tonnes.
“...we still have five-and-a-half months in the current financial year to try to make up for production we lost,” Dattatreyulu said.
SCCL produced 51.33 million tonnes of coal and earned Rs. 9,892.14 crore of revenue in the year ended 31 March 2011.
The revenue loss on account of the strike is estimated to be in the range of Rs. 550-600 crores.
SCCL has 50 mines, including 14 open cast and 36 underground mines, spread across four districts of Telangana. It has 67,104 workers, making it the biggest employer in the region.
“The prices of domestic coal have been rising, albeit sporadically, on a cumulative annual growth rate of 7-8% for the regulated businesses like power sector,” said Dipesh Dipu, director-consulting, mining, at Deloitte Touche Tohmatsu India Pvt. Ltd.
“The uncertainty around the quantum of price increase makes assessment of impact difficult but generally every Rs. 100 per tonne increase in coal price can make energy dearer by 4-6 paise per kilowatt-hour,” he said.
SCCL also faces a higher wage bill, with workers’ pay expected to rise by as much as 25%. The yearly wage bill of the company is Rs. 2,650 crore. SCCL also pays a Diwali bonus on par with Coal India Ltd, the country’s largest miner, which recently agreed to pay a Rs. 21,000 bonus. SCCL will spend nearly Rs. 130 crore to match the payment.
(sourced livemint)
Thursday, August 18, 2011
Exxaro H1 profit up 53 pct on strong coal unit
Thu Aug 18, 2011
* H1 headline EPS up 53 pct to 1,045 cts
* H1 revenue up 22 pct to 9.6 bln rand
JOHANNESBURG Aug 18 (Reuters) - South African diversified miner Exxaro on Thursday reported a 53 percent rise in first-half profit, boosted by higher sales and prices at its coal business.
Exxaro, South Africa's second-largest coal producer and a major supplier to power utility Eskom, said headline earnings per share for the six months to the end of June rose to 1,045 cents compared with 683 cents the previous year.
"The coal and mineral sands business were the main contributors to the increase," said Sipho Nkosi, Exxaro's chief executive officer.
Headline EPS are the main profit gauge in South Africa and strip out certain one-time items.
The earnings exclude an impairment charge of 439 million rand ($62 million) for its Zincor refinery, which the company plans to close. Exxaro has said it plans to exit the zinc business and focus on growing other, more lucrative, parts of its operations, especially coal and iron ore.
The company said the outlook for both coal and mineral sands remained strong.
"The positive market recovery for coal in terms of price and demand are set to continue in the second half of 2011," it said, but added that constraints on the rail line leading to the export terminal remained.
"Market conditions on the mineral sands business are favourable and the demand for all products is strong."
First-half revenue rose 22 percent to 9.6 billion rand ($1.36 billion).
The company declared an interim dividend of 300 cents.
Shares in Exxaro are up nearly 30 percent so far this year, compared with a 6.6 percent fall in Johannesburg's Top-40 index of blue chips . ($1 = 7.073 South African Rand)
Wednesday, August 17, 2011
Biggest coal miners in South Africa
Wed Aug 17, 2011
JOHANNESBURG (Reuters) - South Africa's junior coal miners, some of them tiny producers, are facing intense pressure to consolidate, but the varying quality of their deposits and what are often poor locations will hold back a wave of tie-ups in the short term.
Below are the country's five dominant coal miners at the top of the list, followed by some of the biggest junior players:
* Anglo American Thermal Coal
The global miner produced 58.5 million tonnes of coal in South Africa in 2010. Around 60 percent of that was sold to power utility Eskom, while nearly 30 percent was exported. The remaining 10 percent went to other industrial customers.The company is working on several projects meant to boost output to 90 million tonnes. Anglo has said its expansion plans would depend on where Eskom will build new plants.
* Exxaro Resources
The diversified miner produced 46.8 million tonnes of power station, steam and coking coal in 2010. The company has several greenfield and expansion projects under way. One such project is the expansion of its Grootegeluk mine, which will supply 14.6 million tonnes to Eskom's new Medupi power plant from 2014/15.
* Sasol Mining
The unit of petrochemical group Sasol produced 42.6 million tonnes of coal during the 2010 financial year. Nearly all of that was used in Sasol's own coal-to-liquids synthetic fuels plant at Secunda in South Africa's Mpumalanga province.
* BHP Billiton
BHP Billiton Energy Coal South Africa (BECSA) produces coal for the domestic and export markets. The unit has three primary coal-mining operations: Khutala Colliery, Klipspruit Colliery and Middelburg Mine Services, located in South Africa's Witbank region in the north-eastern province of Mpumalanga. The unit produced 34.3 million tonnes of coal in the year to end-June 2011. BECSA said in February it planned to divest some of its virgin coal prospecting rights to focus on existing operations.
* Xstrata Coal
Xstrata Coal has stakes in five operations in South Africa namely Mpumalanga, iMpunzi, Southstock, Tweefontein and Goedgevonden. Production from the operations was 17.7 million tonnes for the year to the end of December 2010.
* Optimum Coal
Optimum is South Africa's 6th largest producer, with two operating mines in the Mpumalanga province and a pipeline of brownfield and greenfield projects. The miner sold 10.6 million tonnes of coal in its 2010 financial year, out of which 5.5 million went to Eskom and the rest for exports.
* Shanduka Resources
Shanduka Resources is part of the unlisted Shanduka Group, which is chaired by prominent politician-turned-businessman Cyril Ramaphosa. Shanduka Coal, through its subsidiaries, owns the Graspan, Townlands, Bankfontein, Leeuwfontein and Lakeside mines in South Africa. Coal is sold both to the domestic market and exported through the Richards Bay Coal Terminal. Shanduka Coal, 70 percent owned by global trader Glencore, has a run of mine production of 9 million tonnes.
* Kangra Coal
The company produces around 3 million tonnes of coal per year. Some 2 million tonnes are exported, with the remainder sold into the local market.
* Total Coal South Africa (TCSA)
The unit of oil major Total exports around 4 million tonnes a year of thermal coal and 1 million tonnes of coking coal. TCSA is expanding output at its Dorstfontein mine by 2 million tonnes a year. TCSA also produces coal from Forzando North and South mines and Tumelo mine.
* Coal of Africa
The junior coal miner's key projects include the Vele and Makhado coking coal projects and the Mooiplaats and Woestalleen thermal coal projects. Mooiplaats is ramping up to produce 2 million tonnes of coal per year. Vele and Makhado are expected to start production in the first half of 2012 and first half of 2013, respectively, and are expected to produce collectively an initial 1 million tonnes, ramping up to 10 million tonnes of coking coal per year. In 2010, Coal of Africa bought NuCoal Mining, which owns the Woestalleen colliery that processes around 2.5 million tonnes of coal.
* Wescoal
The junior miner currently produces 1.2 million tonnes of coal per year from its Khanyisa colliery in South Africa's Mpumalanga province. Wescoal has said it would like to expand into the export market.
* Continental Coal
The Australia-listed thermal coal producer has a portfolio of producing and advanced coal projects located in South Africa's major coal fields. Continental currently has two operating mines, Vlakvarkfontein and Ferreira, producing 2 million tonnes per year of coal for the export and domestic markets. The miner is set to start the development of two further coal mines in 2011 and is targeting a run of mine production rate of 10 million tonnes by the end of 2015.
(sourced Reuters)
JOHANNESBURG (Reuters) - South Africa's junior coal miners, some of them tiny producers, are facing intense pressure to consolidate, but the varying quality of their deposits and what are often poor locations will hold back a wave of tie-ups in the short term.
Below are the country's five dominant coal miners at the top of the list, followed by some of the biggest junior players:
* Anglo American Thermal Coal
The global miner produced 58.5 million tonnes of coal in South Africa in 2010. Around 60 percent of that was sold to power utility Eskom, while nearly 30 percent was exported. The remaining 10 percent went to other industrial customers.The company is working on several projects meant to boost output to 90 million tonnes. Anglo has said its expansion plans would depend on where Eskom will build new plants.
* Exxaro Resources
The diversified miner produced 46.8 million tonnes of power station, steam and coking coal in 2010. The company has several greenfield and expansion projects under way. One such project is the expansion of its Grootegeluk mine, which will supply 14.6 million tonnes to Eskom's new Medupi power plant from 2014/15.
* Sasol Mining
The unit of petrochemical group Sasol produced 42.6 million tonnes of coal during the 2010 financial year. Nearly all of that was used in Sasol's own coal-to-liquids synthetic fuels plant at Secunda in South Africa's Mpumalanga province.
* BHP Billiton
BHP Billiton Energy Coal South Africa (BECSA) produces coal for the domestic and export markets. The unit has three primary coal-mining operations: Khutala Colliery, Klipspruit Colliery and Middelburg Mine Services, located in South Africa's Witbank region in the north-eastern province of Mpumalanga. The unit produced 34.3 million tonnes of coal in the year to end-June 2011. BECSA said in February it planned to divest some of its virgin coal prospecting rights to focus on existing operations.
* Xstrata Coal
Xstrata Coal has stakes in five operations in South Africa namely Mpumalanga, iMpunzi, Southstock, Tweefontein and Goedgevonden. Production from the operations was 17.7 million tonnes for the year to the end of December 2010.
* Optimum Coal
Optimum is South Africa's 6th largest producer, with two operating mines in the Mpumalanga province and a pipeline of brownfield and greenfield projects. The miner sold 10.6 million tonnes of coal in its 2010 financial year, out of which 5.5 million went to Eskom and the rest for exports.
* Shanduka Resources
Shanduka Resources is part of the unlisted Shanduka Group, which is chaired by prominent politician-turned-businessman Cyril Ramaphosa. Shanduka Coal, through its subsidiaries, owns the Graspan, Townlands, Bankfontein, Leeuwfontein and Lakeside mines in South Africa. Coal is sold both to the domestic market and exported through the Richards Bay Coal Terminal. Shanduka Coal, 70 percent owned by global trader Glencore, has a run of mine production of 9 million tonnes.
* Kangra Coal
The company produces around 3 million tonnes of coal per year. Some 2 million tonnes are exported, with the remainder sold into the local market.
* Total Coal South Africa (TCSA)
The unit of oil major Total exports around 4 million tonnes a year of thermal coal and 1 million tonnes of coking coal. TCSA is expanding output at its Dorstfontein mine by 2 million tonnes a year. TCSA also produces coal from Forzando North and South mines and Tumelo mine.
* Coal of Africa
The junior coal miner's key projects include the Vele and Makhado coking coal projects and the Mooiplaats and Woestalleen thermal coal projects. Mooiplaats is ramping up to produce 2 million tonnes of coal per year. Vele and Makhado are expected to start production in the first half of 2012 and first half of 2013, respectively, and are expected to produce collectively an initial 1 million tonnes, ramping up to 10 million tonnes of coking coal per year. In 2010, Coal of Africa bought NuCoal Mining, which owns the Woestalleen colliery that processes around 2.5 million tonnes of coal.
* Wescoal
The junior miner currently produces 1.2 million tonnes of coal per year from its Khanyisa colliery in South Africa's Mpumalanga province. Wescoal has said it would like to expand into the export market.
* Continental Coal
The Australia-listed thermal coal producer has a portfolio of producing and advanced coal projects located in South Africa's major coal fields. Continental currently has two operating mines, Vlakvarkfontein and Ferreira, producing 2 million tonnes per year of coal for the export and domestic markets. The miner is set to start the development of two further coal mines in 2011 and is targeting a run of mine production rate of 10 million tonnes by the end of 2015.
(sourced Reuters)
Tuesday, July 26, 2011
Coal India seeks govt nod for 30% stake in Indonesian mine
July 26, 2011
BS Reporter
New Delhi: Coal India Ltd (CIL), the state-owned monopoly coal producer, is seeking the government’s approval to acquire 30 per cent stake in a coal asset in Indonesia, Chairman and Managing Director N C Jha said. He declined to share details.
Coal India has been in discussions with Indonesia’s Golden Energy Mines for a possible stake purchase in its assets. The company has earmarked Rs 6,000 crore from its Rs 10,200-crore expenditure plan for the current financial year to buy coal properties abroad, to bridge the widening gap of 83 million tonne in the demand and supply of coal.
The Bombay Stock Exchange-listed company said it has sought relaxation from the finance ministry on the current norm of minimum 12 per cent internal rate of return (IRR) for overseas investment proposals by public sector undertakings. It has argued the assets it sought to buy were unlikely to provide such high IRR.
CIL had failed to make any headway in its overseas acquisition plans last financial year too, despite a similar capex plan. However, it currently owns two new projects in Mozambique.
The company had earlier said it was looking at five overseas proposals for equity infusion in countries such as US, Australia and Indonesia.
BS Reporter
New Delhi: Coal India Ltd (CIL), the state-owned monopoly coal producer, is seeking the government’s approval to acquire 30 per cent stake in a coal asset in Indonesia, Chairman and Managing Director N C Jha said. He declined to share details.
Coal India has been in discussions with Indonesia’s Golden Energy Mines for a possible stake purchase in its assets. The company has earmarked Rs 6,000 crore from its Rs 10,200-crore expenditure plan for the current financial year to buy coal properties abroad, to bridge the widening gap of 83 million tonne in the demand and supply of coal.
The Bombay Stock Exchange-listed company said it has sought relaxation from the finance ministry on the current norm of minimum 12 per cent internal rate of return (IRR) for overseas investment proposals by public sector undertakings. It has argued the assets it sought to buy were unlikely to provide such high IRR.
CIL had failed to make any headway in its overseas acquisition plans last financial year too, despite a similar capex plan. However, it currently owns two new projects in Mozambique.
The company had earlier said it was looking at five overseas proposals for equity infusion in countries such as US, Australia and Indonesia.
Thursday, February 17, 2011
Indonesia may regulate price of coal sold to state utility PLN
Wed Feb 16, 2011 11:56am GMT
JAKARTA Feb 16 (Reuters) - Indonesia may regulate the price of coal sold to state utility firm PT Perusahaan Listrik Negara (PLN) if negotiations between the company and several coal producers fail to reach an agreement, the energy ministry told lawmakers in a report.
The ministry said that since November PLN has faced problems from coal suppliers asking for higher prices due to the increasing world prices caused by extreme cold weather and floods in Australia.
PLN has been negotiating prices with six companies and it expects to complete the talks by the end of this month. According to the ministry, PLN has not yet reached an agreement with PT Tambang Batubara Bukit Asam and Kaltim Prima Coal, a unit of top miner Bumi Resources .
"If agreement cannot be reached between PLN and these suppliers, we will recommend to issue a ministerial decree which will determine prices of coal sold to PLN," the ministry said in the report.
The ministry said the price would refer to the existing coal price benchmark issued monthly by the ministry, and would limit the increase in PLN's coal costs to not more than 2.13 trillion rupiah ($238.9 million) for this year.
PLN, the biggest domestic consumer of coal, estimates its coal-fired power plants will burn 52 million tonnes this year, up from 36 million tonnes in 2010.
For the monthly coal price benchmark in the world's largest exporter of thermal coal see . ($1 = 8914.5 Rupiah) (Reporting by Alfian; Editing by Neil Chatterjee,sourced:Thomson Reuters)
(sourced:Thomson Reuters)
Tags:Indonesia coal news, Indonesia coal policy, government regulating coal pricing, state coal utility, PT Perusahaan Listrik Negara(PLN), negotiations, coal producers in Indonesia, agreement, suppliers, Bumi Resources, PT Tambang Batubara Bukit Asam, Kaltim Prima Coal, Indonesia coal benchmark price, thermal coal prices,
JAKARTA Feb 16 (Reuters) - Indonesia may regulate the price of coal sold to state utility firm PT Perusahaan Listrik Negara (PLN) if negotiations between the company and several coal producers fail to reach an agreement, the energy ministry told lawmakers in a report.
The ministry said that since November PLN has faced problems from coal suppliers asking for higher prices due to the increasing world prices caused by extreme cold weather and floods in Australia.
PLN has been negotiating prices with six companies and it expects to complete the talks by the end of this month. According to the ministry, PLN has not yet reached an agreement with PT Tambang Batubara Bukit Asam and Kaltim Prima Coal, a unit of top miner Bumi Resources .
"If agreement cannot be reached between PLN and these suppliers, we will recommend to issue a ministerial decree which will determine prices of coal sold to PLN," the ministry said in the report.
The ministry said the price would refer to the existing coal price benchmark issued monthly by the ministry, and would limit the increase in PLN's coal costs to not more than 2.13 trillion rupiah ($238.9 million) for this year.
PLN, the biggest domestic consumer of coal, estimates its coal-fired power plants will burn 52 million tonnes this year, up from 36 million tonnes in 2010.
For the monthly coal price benchmark in the world's largest exporter of thermal coal see . ($1 = 8914.5 Rupiah) (Reporting by Alfian; Editing by Neil Chatterjee,sourced:Thomson Reuters)
(sourced:Thomson Reuters)
Tags:Indonesia coal news, Indonesia coal policy, government regulating coal pricing, state coal utility, PT Perusahaan Listrik Negara(PLN), negotiations, coal producers in Indonesia, agreement, suppliers, Bumi Resources, PT Tambang Batubara Bukit Asam, Kaltim Prima Coal, Indonesia coal benchmark price, thermal coal prices,
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