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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, 17 August 09
COAL EXPORTS CONTINUE DESPITE SHORTAGE
Vietnam News reported that, Viet Nam is exporting more coal despite a warning from experts that the country could face a shortage of this fossil fue ...
Monday, 17 August 09
S.KOREA JULY COAL IMPORTS UP TO 8.97 MLN T
* Imports of heating coal in July up 3.7 percent on year
* LNG imports in July fall for seventh straight month
Alibaba reorted that, South Kore ...
Monday, 17 August 09
COAL INDIA PLANS A PRICE HIKE OF 11%
With the state-run CIL mining 84% of the coal produced in the country, an 11% increase will push up inflation by around 0.16%, the company said
L ...
Monday, 17 August 09
BANPU SEES INDONESIAN MINE OUTPUT UP 10 PCT IN 2010
Reuters reported that, Thailand's top coal miner, Banpu, said on Monday it expected coal output from its Indonesian mines to rise 10 percent to abo ...
Monday, 17 August 09
COAL IMPORTS SURGE IN H1
China is one of the world's leading coal producers. But even so, imports of coal have surged in the first half of the year, hitting a record in Jun ...
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- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
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