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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 $12 billion, 12 million metric ton steel plant in eastern Orissa state, planned for more than five years.
“The policy is aimed to make the rules more transparent and simpler,” Handique said. “Posco is a bad precedent but we know that overseas companies want to invest in India and transparent policy will help that,” he said, adding that he also expects the law changes to spark investment from domestic companies.
“We hope the government approves the mine license soon, then we would like to secure land and start the project as soon as possible,” Choi Doo Jin, a spokesman at Posco, said by phone from Seoul today.
ArcelorMittal has proposed setting up two mills in India, one in Orissa and another in Jharkhand -- with a total capacity of 24 million tons. It signed an accord for the Jharkhand mill in mid- 2005, followed by the one in Orissa.
Besides companies, countries including South Africa, Namibia and Colombia have shown interest in investing in the mining sector, Handique said.
Source: Bloomberg
To contact the reporter on this story: Debarati Roy in Mumbai at droy5@bloomberg.net
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Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
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- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
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