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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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Tuesday, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
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- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- The University of Queensland
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
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