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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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- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
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- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
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- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
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- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
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- Parliament of New Zealand
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- Africa Commodities Group - South Africa
- PTC India Limited - India
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- Attock Cement Pakistan Limited
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- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
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- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
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- Australian Coal Association
- Banpu Public Company Limited - Thailand
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- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
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- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Central Electricity Authority - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Independent Power Producers Association of India
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- Vedanta Resources Plc - India
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- The University of Queensland
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- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
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- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
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