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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
Live Mint reported that, In a move that may impress investors ahead of its maiden public sale of shares but add to the costs of cement, power and steel companies, India’s largest coal miner has proposed an 11% increase in coal prices.
State-run Coal India Ltd, or CIL, argues its price hike will have only a marginal impact on inflation.
The price increase will net CIL an additional revenue of Rs4,629 crore and boost profits ahead of a public offer in the stock market.
“We see a price correction shortly and there should not be a problem,” said Partha S. Bhattacharyya, chairman of CIL. The company posted a profit of Rs300 crore on a turnover of Rs46,000 crore last year.
The weightage of coal in the Wholesale Price Index, or WPI, is 1.753%.
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.
On 7 August, Mint had reported on the Union government plan to shortly approve a CIL proposal to increase the price of coal, a move that will directly affect cement, power and steel companies.
CIL is a holding firm under the coal ministry that contributes 85% of India’s coal output and is free to fix the price at which it sells the fuel, but only after prior approval from the government. The last coal price revision was in December 2007 and the latest revision is expected to partly bridge the price gap with international coal, which is about one-third higher.
Shriprakash Jaiswal, minister of state (independent charge) in the ministry of coal, did not respond to repeated phone calls and a message to his cellphone.
Any increase in prices of coal, a key input for most sectors, will have a cascading effect.
It will increase the price for coal to the power sector by Rs77 per tonne, which will work out to around 5 paise per unit of power generated; for the cement sector, the impact will be around Rs20 per tonne which will work out to around 80 paise on a 40kg bag, said Bhattacharyya.
Overall annual inflation, as measured by WPI, is still contracting and was -1.74% on 1 August. There is, however, a fear that inflation may bounce back later in the year, especially since food price inflation continues to be firm — the pressure will only worsen with the country declaring drought in 171 districts in the middle of its most important crop season, kharif.
The National Council of Applied Economic Research in its monthly report on 12 August said that the possibility of the inflation rate rising in the current fiscal cannot be ruled out.
“Rise in prices of basic raw material may have multiplier effect on inflation, apart from direct impact on the indices, which in recessionary time, may have adverse impact on the economy,” said Dipesh Dipu, principal consultant (mining) with audit and consulting firm PricewaterhouseCoopers.
Crisil Ltd principal economist D.K. Joshi said: “The coal price increase will have an impact on energy-intensive industries. However, I do not see it as a major problem on inflation for the next couple of months. Going ahead, it will add to the cost of raw materials.”
CIL believes that the price hike will help CIL partly offset the increase in input costs, such as a higher wage bill on account of the Sixth Pay Commission, and thereby show a healthier balance sheet ahead of its proposed listing on bourses.
“That’s (listing) the idea. In declining profitability, who will invest? This will help us with our proposed listing,” said Bhattacharyya.
Indian coal (with a calorific value of 3,500 kilocalorie per kg) is priced at around $38 (Rs1,835) per tonne, around 30-40% lower than international prices.
India has 256 billion tonnes of coal reserves, of which around 455 million tonnes (mt) per annum is mined. CIL is targeting a production of 435 mt this year, against 403.73 mt achieved in 2008-09.
Demand for coal is expected to reach about two billion tonnes a year by 2031-32, about five times the current rate of extraction, with the maximum demand coming from the power sector.
Source:Live Mint
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Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
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- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
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