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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, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
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- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
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- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Planning Commission, India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
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