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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
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