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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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Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
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- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Romanian Commodities Exchange
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Australian Coal Association
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
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