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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 double mining’s contribution to the nation’s $1.2 trillion economy to at least 4 percent.
“We hope to increase it to 5 percent but expect it to increase to at least 4 percent in five years,” Mines Minister B.K. Handique said in an interview in New Delhi yesterday. The legislation will be presented to parliament in the winter session this year, he said.
Delays in securing mining licenses have undermined India’s efforts to win more investment, holding up construction of $32 billion projects announced ArcelorMittal and Posco, the world’s largest and sixth-largest steelmakers. The new law will develop the changes to the mineral policy last year that have so far failed to unlock development.
“It will be great if the government is able to cut down the long-winded procedure,” Niraj Shah, an analyst at Centrum Capital Ltd., said today. It will help companies who are serious about building operations in India, he said.
India, which holds the world’s fourth-largest bauxite deposits and the fifth-largest iron ore reserves according to McKinsey & Co., currently regulates mining through the five- decade old Mines & Minerals (Development & Regulation) Act.
“We will introduce a legal framework that ensures sustainable development and includes environment concerns,” Handique said. “We have to ensure it’s more broad-based as if there is resistance from people it will not be possible to translate the act into reality.”
Posco, ArcelorMittal
Land disputes and delays in allocating mining licenses have stopped South Korea-based Posco from proceeding with potentially the biggest overseas investment in India. The company is yet to begin building a $12 billion, 12 million metric ton steel plant in eastern Orissa state, planned for more than five years.
“The policy is aimed to make the rules more transparent and simpler,” Handique said. “Posco is a bad precedent but we know that overseas companies want to invest in India and transparent policy will help that,” he said, adding that he also expects the law changes to spark investment from domestic companies.
“We hope the government approves the mine license soon, then we would like to secure land and start the project as soon as possible,” Choi Doo Jin, a spokesman at Posco, said by phone from Seoul today.
ArcelorMittal has proposed setting up two mills in India, one in Orissa and another in Jharkhand -- with a total capacity of 24 million tons. It signed an accord for the Jharkhand mill in mid- 2005, followed by the one in Orissa.
Besides companies, countries including South Africa, Namibia and Colombia have shown interest in investing in the mining sector, Handique said.
Source: Bloomberg
To contact the reporter on this story: Debarati Roy in Mumbai at droy5@bloomberg.net
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Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
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- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
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