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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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Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
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- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
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