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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, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
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- Interocean Group of Companies - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Australian Coal Association
- MS Steel International - UAE
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
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