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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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- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
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