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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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Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
Thursday, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
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- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Minerals Council of Australia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
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