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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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Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
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- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
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