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Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
 WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices to mitigate the impact of wage hikes, which hurt its profit for the last financial year to the extent of 83 billion rupees ($1.74 billion).
"We have reported a sharp drop in earnings and that is because of a pay revision for workers and officers," Partha Bhattacharyya told reporters on the sidelines of a coal conference.
"We need to improve. That can be done by a modest increase in coal prices."
Coal India, which accounts for more than 80% of India's total coal production, last raised prices in August 2007, by 10%.
Although coal prices in India were deregulated completely in January 2000, the price is fixed by state-run companies under the guidance of the coal ministry.
However, India's coal minister, Sriprakash Jaiswal, said the federal government wasn't considering a coal price hike.
"There is a need for higher coal prices due to wage hikes. But currently the government isn't considering a hike," he told reporters, adding the possibility of a price hike later can't be ruled out.
India's federal government plans to sell a 10% stake in Coal India. Mr. Bhattacharyya said Coal India's profit will be hit by 40 billion rupees in the current financial year due to the wage hike.
Coal India expects coal production to rise 7.7% in the current fiscal to 435 million metric tons. The company, which has been posting an average annual production growth of 5%, may have to increase production by 8.5%-9% to meet India's growing demand, Mr. Bhattacharyya said.
India's coal demand this year is estimated at 604.33 million tons, while domestic production is estimated at 534.33 million tons, leaving a gap of 70 million tons which needs to be met through imports.
India is facing a coal shortage as its power generation is increasing 7.5% annually while coal production is rising only 5%, Central Electricity Authority Chairman Rakesh Nath said in a separate conference Friday.
He expects thermal power coal imports to widen to 40 million tons by the fiscal ending March 31, 2012 from 28.7 million tons in the current year, due to the growing mismatch between local supply and demand.
"Coal shortages will continue due to the demand-supply gap," he said.
Source: WSJ
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Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
Monday, 17 August 09
COAL EXPORTS CONTINUE DESPITE SHORTAGE
Vietnam News reported that, Viet Nam is exporting more coal despite a warning from experts that the country could face a shortage of this fossil fue ...
Monday, 17 August 09
S.KOREA JULY COAL IMPORTS UP TO 8.97 MLN T
* Imports of heating coal in July up 3.7 percent on year
* LNG imports in July fall for seventh straight month
Alibaba reorted that, South Kore ...
Monday, 17 August 09
COAL INDIA PLANS A PRICE HIKE OF 11%
With the state-run CIL mining 84% of the coal produced in the country, an 11% increase will push up inflation by around 0.16%, the company said
L ...
Monday, 17 August 09
BANPU SEES INDONESIAN MINE OUTPUT UP 10 PCT IN 2010
Reuters reported that, Thailand's top coal miner, Banpu, said on Monday it expected coal output from its Indonesian mines to rise 10 percent to abo ...
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- Kapuas Tunggal Persada - Indonesia
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- Globalindo Alam Lestari - Indonesia
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- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
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- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
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- Romanian Commodities Exchange
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- Indika Energy - Indonesia
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- SMG Consultants - Indonesia
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- MS Steel International - UAE
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- Global Green Power PLC Corporation, Philippines
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- Deloitte Consulting - India
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- Electricity Authority, New Zealand
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- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
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- Indian Energy Exchange, India
- Parliament of New Zealand
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- Attock Cement Pakistan Limited
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- Thiess Contractors Indonesia
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- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
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- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
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- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
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- Siam City Cement - Thailand
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- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
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- Orica Mining Services - Indonesia
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- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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- Chamber of Mines of South Africa
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- New Zealand Coal & Carbon
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- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
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- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
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- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
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- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
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- Planning Commission, India
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- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
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- Bukit Makmur.PT - Indonesia
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- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
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- Electricity Generating Authority of Thailand
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