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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 $12 billion, 12 million metric ton steel plant in eastern Orissa state, planned for more than five years.
“The policy is aimed to make the rules more transparent and simpler,” Handique said. “Posco is a bad precedent but we know that overseas companies want to invest in India and transparent policy will help that,” he said, adding that he also expects the law changes to spark investment from domestic companies.
“We hope the government approves the mine license soon, then we would like to secure land and start the project as soon as possible,” Choi Doo Jin, a spokesman at Posco, said by phone from Seoul today.
ArcelorMittal has proposed setting up two mills in India, one in Orissa and another in Jharkhand -- with a total capacity of 24 million tons. It signed an accord for the Jharkhand mill in mid- 2005, followed by the one in Orissa.
Besides companies, countries including South Africa, Namibia and Colombia have shown interest in investing in the mining sector, Handique said.
Source: Bloomberg
To contact the reporter on this story: Debarati Roy in Mumbai at droy5@bloomberg.net
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Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
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