We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
|
|
|
Showing 5696 to 5700 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
|
| |
| |
|
