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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, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
Tuesday, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
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- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- The Treasury - Australian Government
- Planning Commission, India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
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