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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, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
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- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
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- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
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