NALCO eyes coal mines in Indonesia

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Aug 2010

India’s public sector aluminium miner, National Aluminium Company Ltd (NALCO) (BOM:532234) is considering to acquire stake in coal mines in Indonesia so as to secure raw material supplies for its project in East Kalimantan at Borneo The firm said in a statement today that it requires coal mines that can produce coal with heating value of more than 5,000 kcal per kg, air-dried basis (ADB) and which are able to produce 10 million tonnes per annum of coal from 2014.
The company’s annual thermal coal requirements stand at 8-10 million tonnes, of which company aims to use half of it to feed its East Kalimantan project and the remainder for its operations outside Indonesia.
Further, the company is also expected to build a 0.5 million tonnes aluminium smelter and a 1250 MW coal-fired power plant with an estimated investment of $4 billion.
The company stocks ended with loss on the Bombay Stock Exchange (BSE) today, at Rs.397, down by over 1%.

Source: Commodity Online