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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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Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
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- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- VISA Power Limited - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Minerals Council of Australia
- MS Steel International - UAE
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Trasteel International SA, Italy
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