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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, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
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