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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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