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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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Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- Mercator Lines Limited - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- PTC India Limited - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
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