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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, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
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- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- The University of Queensland
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
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