We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
 A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm in India. The report alleges widespread corruption in coal block allocation and is perceived as potentially damaging for the already scam-tainted Manmohan Singh-led United Progressive Alliance (UPA) government.
According to the CAG, the underpriced sale and free allocation of coal blocks for captive mining may have cost the government as much as US$33 bill in lost revenue. At the heart of the debate is the 1993 policy which broke the government’s monopoly as a coal supplier and allowed private companies to mine coal for captive use, in a bid to increase coal production to meet burgeoning demand.
However, the decision resulted in a number of non-coal consuming industries approaching state governments and signing letters of intent promising to develop coal consuming plants if they were allocated coal mines. Coal blocks were allocated to private companies as well as state mining companies who were ill-equipped to run a power plant as well as a coal mine. Prime Minister Singh was in charge of the Ministry of Coal (MoC) from 2006 to 2009 when some of the controversial allocations took place.
A number of companies developed coal blocks, but the vast majority have been content to sit on the asset and wait until the government opened up the coal market to allow private captive coal miners to sell coal into the domestic market place. Of the 218 coal blocks that have been awarded to date, only 29 are currently in production. Many of these companies blame delays in environmental clearances and land acquisition issues for their inability to commence operations.
'Coalgate' Implications
Recently, the Ministry of Coal has started de-allocating coal blocks from miners who have not sufficiently developed their assets. As per the latest available data, 24 coal blocks have been de-allocated, including those from private companies including Binani Cement, Bhatia International Ltd and Lloyds Metal & Engineers Ltd. The threat of further de-allocation of mines by the MoC, as political fallout from the ongoing scandal, is expected to induce other mine owners to be more proactive with project development. There are significant financial implications for companies who have secured financing and have begun to develop plants dependent on captive coal blocks. Opposition from the business community is fervent as many coal-consuming plants are ready or partly ready, financing has been secured and industrial equipment has been ordered. If coal blocks are de-allocated, billions of dollars loaned to finance these projects would come under threat.
It is imperative for India to secure energy for its growing economy. It is facing severe shortages of domestic coal supply and ‘Coalgate’ will now join India’s ultra-mega power project (UMPP) policy as a shining example of failed energy policy. Salva does not believe that captive mining will grow to 653 Mt by 2020, as forecast by India’s Planning Commission.
Developments in captive coal production have the ability to widely swing India’s imported coal demand, particularly for thermal coal. The political and commercial implications of India’s ‘Coalgate’ scandal and captive mine development are worth keeping an eye on as India’s Central Bureau of Investigation initiates the due process of law against some of these companies. The repercussions will affect not just India, but possibly world coal markets.
Source:Salva
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
|
|
|
Showing 4566 to 4570 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
|
| |
| |
|
