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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, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
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- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
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- Holcim Trading Pte Ltd - Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
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- Australian Coal Association
- LBH Netherlands Bv - Netherlands
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- Goldman Sachs - Singapore
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- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
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- Baramulti Group, Indonesia
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- Lanco Infratech Ltd - India
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- CIMB Investment Bank - Malaysia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
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- Wilmar Investment Holdings
- Indian Oil Corporation Limited
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- Georgia Ports Authority, United States
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- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
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- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
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- Australian Commodity Traders Exchange
- White Energy Company Limited
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- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
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- New Zealand Coal & Carbon
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- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
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- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
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- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
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- Jaiprakash Power Ventures ltd
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- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
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- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
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- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
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- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
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- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
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- MS Steel International - UAE
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- Indian Energy Exchange, India
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