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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 $12 billion, 12 million metric ton steel plant in eastern Orissa state, planned for more than five years.
“The policy is aimed to make the rules more transparent and simpler,” Handique said. “Posco is a bad precedent but we know that overseas companies want to invest in India and transparent policy will help that,” he said, adding that he also expects the law changes to spark investment from domestic companies.
“We hope the government approves the mine license soon, then we would like to secure land and start the project as soon as possible,” Choi Doo Jin, a spokesman at Posco, said by phone from Seoul today.
ArcelorMittal has proposed setting up two mills in India, one in Orissa and another in Jharkhand -- with a total capacity of 24 million tons. It signed an accord for the Jharkhand mill in mid- 2005, followed by the one in Orissa.
Besides companies, countries including South Africa, Namibia and Colombia have shown interest in investing in the mining sector, Handique said.
Source: Bloomberg
To contact the reporter on this story: Debarati Roy in Mumbai at droy5@bloomberg.net
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Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Australian Coal Association
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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