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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
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