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