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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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Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
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- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
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- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
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- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
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