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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 $12 billion, 12 million metric ton steel plant in eastern Orissa state, planned for more than five years.
“The policy is aimed to make the rules more transparent and simpler,” Handique said. “Posco is a bad precedent but we know that overseas companies want to invest in India and transparent policy will help that,” he said, adding that he also expects the law changes to spark investment from domestic companies.
“We hope the government approves the mine license soon, then we would like to secure land and start the project as soon as possible,” Choi Doo Jin, a spokesman at Posco, said by phone from Seoul today.
ArcelorMittal has proposed setting up two mills in India, one in Orissa and another in Jharkhand -- with a total capacity of 24 million tons. It signed an accord for the Jharkhand mill in mid- 2005, followed by the one in Orissa.
Besides companies, countries including South Africa, Namibia and Colombia have shown interest in investing in the mining sector, Handique said.
Source: Bloomberg
To contact the reporter on this story: Debarati Roy in Mumbai at droy5@bloomberg.net
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Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
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- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- White Energy Company Limited
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
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