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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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Showing 6 to 10 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
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