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Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
 Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export of iron ore as well as suspension of permits to transport iron ore for export from the mines, to curb illegal exports, has had a ripple effect in the state, as reported by Business Standard.
The operations of as many as 30 export-oriented units have come to a grinding halt in Karnataka as over 1 million tonnes of iron ore is lying idle at various ports causing a foreign exchange loss of around Rs 300 crore (US$ 65.63 million) in the last one week, Basant Poddar, vice chairman, Federation of Indian Mineral Industries (FIMI), told Business Standard.
In addition to this, the freight loss to the Indian Railways is in the order of Rs 80 crore (US$ 17.501 million) and Rs 40 crore (US$ 8.750 million) for truckers for moving the cargo from the mines to various ports. The loss of wharfage charges for the ports is in excess of Rs 3.5 crore (US$ 0.765 million). Apart from this, the state government itself has seen a loss of Rs 30 crore (US$ 6.563 million) by way of royalty from the mining companies ever since the ban came into effect during the past week.
With effect from July 26, the state banned export of iron ore and stopped issuing permits to transport iron ore for export from July 28 onwards. Presently, 80 mine lease holders are operating in the state and exports about 30 million tonnes of iron ore annually.
Export-oriented units like Mineral Enterprises Ltd, Sesa Goa Limited, Deccan Mining Syndicate Pvt Ltd, KMMI Group, Kuminex Minerals Pvt Ltd, Alfa Exports and Doddannavar Brothers are likely to face penalty from overseas buyers. These companies cannot even sell to the domestic buyers unless they export at least 50 per cent of their total produce in a year, Poddar said.
The companies are losing lakhs of rupees as demurrage charges for holding up ships at the ports. For each day’s delay they have to pay $20,000 as demurrage charges. For example, Sesa Goa Ltd, a leading exporter of iron ore from India, has had one ship at the New Mangalore Port since July 30 for the lack of iron ore.
“We have already seen the diversion of four ships from ports in Karnataka due to the ban on exports. Port officials are not allowing us to load the cargo because of the ban orders,” he said. Presently, 600,000 tonnes of iron ore is lying at the New Mangalore Port, 300,000 tonnes at Belekeri port and 100,000 tonnes at Karwar port.
According to officials at New Mangalore Port Trust (NMPT), the only major port in Karnataka, the iron ore cargo movement has seen considerable drop in the last four months due to intermittent ban on movement of iron ore cargo by road by the deputy commissioners of Dakshina Kannada, Udupi and Hassan districts.
Apart from the economic loss, the ban on iron ore exports is also likely to cause environmental issues. The mining companies are presently stocking over 6 million tonnes of iron ore fines at their mines. “As we cannot store fines for long, it may get into the atmosphere through air and water leading to greater damage to the environment,” Shantesh Gureddi, chairman, FIMI, Southern Region, said.
Most importantly, a huge number of persons employed directly and indirectly will be thrown out of jobs. At least 5,000 people are directly employed in mining operations and another 50,000 in ancillary works. Over 40,000 trucks are engaged on a daily basis to transport the ore.
“If the state government does not revoke its order, the industry will be forced to file a case in the court to get it revoked as the government does not have any power to impose ban,” Gureddi said.( 1 INR = 0.0218771 USD 1 USD = 45.7100 INR)
Source: Business-Standard
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Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
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- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Australian Coal Association
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
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