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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
 NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing system and bidding of mining rights. It will mandate coal companies to provide 26 per cent of post-tax profit for the welfare of affected people, a move intended to benefit mostly tribals.
Niraj Shah, Senior VP (Equity Research) at Fortune Financial Services (India) Ltd said, "The biggest negative will be on Coal India... 26 per cent profits would be transferred and will be calculated on previous years' profit. So, the EPS would be impacted."
Coal India slumped 3 per cent post the decision and was the top loser on the 30-stock Sensex.
Bhavesh Chauhan of Angel Broking said the biggest impact will be on Coal India followed by Hindustan Zinc. "For Coal India, there is a cushion of passing prices to customers because it sells coal at a subsidy," Mr Chauhan added.
Companies that have captive coal mines will also be affected, Mr Shah said. "Profit will be calculated on the basis of mine head costs and the transfer pricing, so power and steel companies will be impacted," Mr Shah added.
The Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace a 1957 act, also provides for setting up of National Mining Regulatory Authority and Tribunal and formation of District Mineral Foundations in 60 mineral-rich districts across the country. The states will also be advised to set up authorities and tribunals on these lines.
The Bill, which advocates "sustainable and scientific" mining, also suggests non-coal miners like bauxite and iron ore firms to share an amount equal to that of royalty with local residents instead of just sharing profits.
A 10-member ministerial panel set up in June last year, has finalised the methodology ensuring that people in mineral-rich districts of Andhra Pradesh, Orissa, Chhattisgarh, Goa, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh and West Bengal get monetary benefits from mining.
If the bill is passed, an estimated amount of Rs. 10,000 crore (approximately US$ 2.042 billion) will be generated per year from miners and an average amount of Rs. 180 to 200 crore (approximately US$ 36,754,535 to 40,838,239) will be distributed among District Mining Foundations of 60 mineral rich districts that include 25 districts affected by Left Wing Extremism.
Mr Shah said money will be transferred to an escrow account that would be used for the benefit of the tribals.
Source: NDTV
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Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
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- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
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