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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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Wednesday, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
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