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The Aries mine, which is owned by Essar Energy, is located in the Kutai region of East Kalimantan in Indonesia.
In March 2010 Bllomberg reported that Essar Energy had agreed to acquire the mining project which, according to a statement from the company, could contain up to 100 million tonnes of thermal coal and that production could commence within a year. On its website Essar Energy states that the project has 64 million tonnes "of mineable reserves."
Export to India for Essar power station
Essar Energy states that coal for its proposed 3,000 megawatt Salaya power plant in India would be based on imported coal from the company's "captive coal mines in Indonesia and Mozambique." (Essar is proposing that 2,400MW of the plant be coal-fired with the remainder from petroleum coke). In its April 2010 Prospectus Essar Energy states that coal from the Aries mine would be used to supply the Salaya power station.
In its 2010 annual report the company stated that the mine "is currently progressing through its approval process ahead of the commencement of mining. First production is expected in the fourth quarter of 2011. In the interim, the Salaya I power project will have the benefit of its contract with Essar Shipping to source coal at a landed price of US$55/tonne. Commissioning of the first unit of the Salaya I plant is due to commence in May 2011."
Resources and articles
Related GEM.wiki articles
- Dinakar Sethuraman, "India’s Essar Buys Aries Coal Mines in Indonesia (Update1)", Bloomberg, March 25, 2010.
- Essar Energy, "History", Essar Energy website, accessed February 2012.
- Essar Energy, "Power", Essar Energy website, accessed February 2012.
- Essar Energy, "Prospectus", April 2010, page 87. (Large pdf)
- Essar Energy, "2010 Annual Report", Essar Energy, April 2011, page 26.