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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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Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
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- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
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- Wilmar Investment Holdings
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- McConnell Dowell - Australia
- Planning Commission, India
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- IHS Mccloskey Coal Group - USA
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Cement Manufacturers Association - India
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- Savvy Resources Ltd - HongKong
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- Toyota Tsusho Corporation, Japan
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- Global Coal Blending Company Limited - Australia
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- SMC Global Power, Philippines
- Ministry of Transport, Egypt
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- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
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- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
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- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
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- The University of Queensland
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- CIMB Investment Bank - Malaysia
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- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
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- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
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- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
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- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
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