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Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the floor price of coal being sold through this route.
The forward e-auction process, which started in Western Coalfields Limited (WCL) and Eastern Coalfields Limited (ECL) — the two subsidiaries of CIL last month, has drawn a lacklustre response as the floor price of coal offered through this route was twice the notified price.
The coal consumers cannot buy coal at such high prices through the forward e-auction route and this has prompted CIL to think of a downward revision in the floor price, an industry source told Business Standard.
Two rounds of bidding have been completed so far for the forward e-auction launched in August this year.
In the first round, WCL had offered about 500,000 tonnes of coal through the forward e-auction route out of which sale of only 1,200 tonnes of coal materialized. On the other hand, the coal offered by ECL in the second round drew a blank from the consumers.
Earlier, coal consumers across the country had objected to CIL’s decision to fix the floor price of coal to be sold on the forward e-auction platform at two times higher than the notified price.
The coal consumers alleged that CIL is keen on making greater profit through sale of forward e-auction coal without caring for the interests of the consumers.
On its part, CIL has clarified that high grade coal containing low ash content from the UG mines was to be sold on the forward e-auction platform. The floor price of this coal has to be higher as the cost of coal production from UG mines was higher than that of open cast projects.
Ten per cent of the spot e-auction coal was to be sold through the forward e-auction route.
In 2009-10, 45 million tonnes of coal was to be sold through the e-auction mode and 10 per cent of this coal was proposed to be sold through forward e-auction.
The two platforms for forward e-auction are mjunction.com and MSTC Limited.
Source: Business Standard
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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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- Sarangani Energy Corporation, Philippines
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- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
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- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
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- Banpu Public Company Limited - Thailand
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- Global Green Power PLC Corporation, Philippines
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- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
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- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
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- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
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- Edison Trading Spa - Italy
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- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
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- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
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- New Zealand Coal & Carbon
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- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
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- Minerals Council of Australia
- Romanian Commodities Exchange
- Parliament of New Zealand
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- South Luzon Thermal Energy Corporation
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- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
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- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
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- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
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- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
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- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
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- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
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- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
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- Mercator Lines Limited - India
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- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
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- Wilmar Investment Holdings
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- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
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- Posco Energy - South Korea
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
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- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
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- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
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- Maharashtra Electricity Regulatory Commission - India
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