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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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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Planning Commission, India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
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