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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
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Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
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