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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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- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Australian Coal Association
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
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