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