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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
 NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing system and bidding of mining rights. It will mandate coal companies to provide 26 per cent of post-tax profit for the welfare of affected people, a move intended to benefit mostly tribals.
Niraj Shah, Senior VP (Equity Research) at Fortune Financial Services (India) Ltd said, "The biggest negative will be on Coal India... 26 per cent profits would be transferred and will be calculated on previous years' profit. So, the EPS would be impacted."
Coal India slumped 3 per cent post the decision and was the top loser on the 30-stock Sensex.
Bhavesh Chauhan of Angel Broking said the biggest impact will be on Coal India followed by Hindustan Zinc. "For Coal India, there is a cushion of passing prices to customers because it sells coal at a subsidy," Mr Chauhan added.
Companies that have captive coal mines will also be affected, Mr Shah said. "Profit will be calculated on the basis of mine head costs and the transfer pricing, so power and steel companies will be impacted," Mr Shah added.
The Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace a 1957 act, also provides for setting up of National Mining Regulatory Authority and Tribunal and formation of District Mineral Foundations in 60 mineral-rich districts across the country. The states will also be advised to set up authorities and tribunals on these lines.
The Bill, which advocates "sustainable and scientific" mining, also suggests non-coal miners like bauxite and iron ore firms to share an amount equal to that of royalty with local residents instead of just sharing profits.
A 10-member ministerial panel set up in June last year, has finalised the methodology ensuring that people in mineral-rich districts of Andhra Pradesh, Orissa, Chhattisgarh, Goa, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh and West Bengal get monetary benefits from mining.
If the bill is passed, an estimated amount of Rs. 10,000 crore (approximately US$ 2.042 billion) will be generated per year from miners and an average amount of Rs. 180 to 200 crore (approximately US$ 36,754,535 to 40,838,239) will be distributed among District Mining Foundations of 60 mineral rich districts that include 25 districts affected by Left Wing Extremism.
Mr Shah said money will be transferred to an escrow account that would be used for the benefit of the tribals.
Source: NDTV
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
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