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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, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
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- Parliament of New Zealand
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- MS Steel International - UAE
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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