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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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Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- Trasteel International SA, Italy
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
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