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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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Monday, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
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