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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
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